SPYR acquires Applied MagiX to enter Apple HomeKit devices market

Date: October 22, 2020

SPYR acquires Applied MagiX to enter Apple HomeKit devices market

SPYR Technologies Inc. (SPYR)., a holding company involved in building a portfolio of technology companies through strategic acquisitions, is making yet another acquisition aimed at getting a lead in the Apple HomeKit-Enabled Devices sector. The Denver-based company has reportedly agreed to purchase Applied MagiX Inc. (MagiX), a registered Apple developer and reseller of Apple ecosystem compatible products.

With this deal, SPYR enters the global IoT (Internet of Things) market, more particularly, the segment of the industry related to the manufacturing and reselling of devices and accessories built on Apple’s HomeKit® framework. These products and accessories work with theApple® HomeKit ecosystem and are exclusive to the Apple market and its consumers.

Applied MagiX is expected to announce its initial products that will accelerate revenue for SPYR/Applied MagiX while the firm continues to manufacture top-notch products in the Apple HomeKit market.

Applied MagiX and its top executives including COO (Chief Operating Officer) Kelly Clark and CEO (Chief Executive officer) Dr. Harald Zink, bring a wealth of knowledge and experience in Apple product development, focusing on operating tech startups and market strategies. Moreover, MagiX offers its network of industry veterans and resources that give Applied MagiX/ SPYR access to opportunities to contribute to achieving their goals.

Speaking on the acquisition, James R. Thompson, CEO, and President of SPYR said that the company is excited to have MagiX under the SPYR umbrella. The strategic acquisition of Applied MagiX is just the commencement for SPYR’s expansion and growth in the technology sector, he said while adding that together with Dr. Zink and his employees, SPYR sees a prosperous future ahead for the company as well as its shareholders.

Dr. Harald Zink said that the company is thrilled that Jim and his team share a similar vision and passion for bringing exceptional products to the Apple smart home market.

Source credit - https://www.globenewswire.com/news-release/2020/10/21/2111978/0/en/SPYR-Technologies-Enters-Apple-HomeKit-Enabled-Devices-Market-with-Acquisition-of-IoT-Technology-Company.html

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Nandita Bhardwaj

Nandita holds a management degree with specialization in marketing, and boasts of a short-term experience in the field of recruitment. Following her passion for writing however, she decided to pursue a career in the field of content development. Presently, Nandita pens down news pieces for newsorigins.com, spanning the verticals of business, finance, and technology.

SPYR acquires Applied MagiX to enter Apple HomeKit devices market