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SPYR Inc. (SPYR) Enters Smart-Home Market Through Strategic Acquisition

Written by Customer Service on . Posted in Mergers And Acquisitions.

NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) — NetworkNewsAudio – SPYR Inc. (OTCQB: SPYR) announces the availability of a broadcast titled, “Smarter Homes, Smarter Cars, Smarter People.”

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The numbers around the smart market are eye popping. The connected car market is forecast to grow from $54 billion in 2020 to $166 billion in 2025. The global smart-home security cameras market alone is forecast by Grand View Research to grow 15.7% annually and reach $11.89 billion by 2027. The global market for all smart devices in a home is forecast by Statista to advance from $91 billion in 2020 to $159 billion in 2024. There was good reason Amazon shelled out $1 billion in 2018 to buy Ring, a smart-doorbell company rejected on Shark Tank. The strategic buyout wasn’t just about the technology, it was for quick access into the burgeoning smart-home market as evermore consumers seek to control their homes wirelessly.

SPYR Inc. (OTCQB: SPYR) made a strategic acquisition of its own to enter the smart-home market, buying Applied Magix Inc., a registered Apple developer and reseller of Apple ecosystem compatible products. Bringing Applied Magix under the SPYR umbrella accelerated the parent company’s push into the smart-device market. SPYR is now laser focused on smart-home and smart-car opportunities, specifically users of Apple CarPlay and Apple HomeKit.

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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