SPYR (OTCQB: SPYR) (dba SPYR Technologies) is a technology company whose subsidiary, Applied Magix Inc., develops and resells Apple(R) ecosystem compatible products in the growing multibillion-dollar IoT smart home and connected car markets. The company today announced its acquisition and expansion plans for 2022. During fiscal year ended 2021 and to date, SPYR has been exploring possible acquisitions that may strengthen its balance sheet and return value to its shareholders. According to the update, SPYR has been in preliminary discussions with two companies targeted for possible acquisition this year. One of the targets is a well-positioned industrial lighting developer, whose business is focused on the marketing and sale of its proprietary lighting technologies that are widely adopted as the industry standards in the transportation and industrial lighting spaces. The second company controls a proprietary web-based software platform and complementary hardware used for high-value asset tracking in the construction, agriculture, asset management, police, defense, energy and cold-chain industries. “Over the past year, we have been actively exploring expansion of the holding company for the benefit of our shareholders,” SPYR’s CEO Tim Matula said in the press release. “I believe these two opportunities are very attractive and will, assuming we complete the acquisitions, contribute to the overall business development and profitability of the company for the benefit of our shareholders.”
To view the full press release, visit https://ibn.fm/GF6GB
About SPYR Inc.
SPYR is a technology company which, through its subsidiary, Applied Magix Inc., develops and resells Apple(R) ecosystem compatible products with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (“AI”) and smart-technology products. For more information about the company, visit https://ir.SPYR.com.
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR
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