VANCOUVER, Jan. 21, 2020 /CNW/ – LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to announce that it has entered into a definitive agreement (the “Acquisition Agreement”) to acquire market-differentiated Internet of Things (“IoT”) sensor technologies for the waste and container management industry (the “Assets“).
As the global population approaches 8 billion, continued population density and growth inevitably increases the volume of garbage and recycling, putting additional pressure on the waste management industry. Industrial smart bin monitoring is a revolutionary way to drive greater optimization and efficiency for operators. With IoT sensors, all parties know the fill-level of containers and can predict pick-up and processing costs which, in turn, improves pick-up scheduling, profitability, and optimization.
LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a BC-based SaaS provider of smart monitoring sensors to improve the supply chain, is now offering smart waste/construction/recycling management solutions. By incorporating ultrasonic IoT sensors with the 1SHIFT Logistics platform, LiteLink can provide businesses with a cost-saving and efficiency-driving solution:
“We are very excited about the market-differentiating IoT sensor technology, which will allow us to provide the waste management industry with a much-needed solution,” said LiteLink CEO Ashik Karim. “We are confident that anyone that has interest or charges based on how ‘full a bin, container, or space is’ will want this technology. From grain to oil to clothing bins that require pick-ups or attention when they are full or empty, this integrated solution will solve this problem automatically without manual inspection.”
Under the terms of the Acquisition Agreement, LiteLink will purchase all of the Assets from a partnership of individuals called 3030 IoT, including, among other things, sensor technologies, intellectual property rights,