SPYR Technologies’ Applied Magix Exploring Intellectual Property Acquisition Targets

Rhea-AI Summary

SPYR Technologies is actively pursuing potential acquisition targets to enhance its product offerings and intellectual property through its subsidiary, Applied Magix. CEO Dr. Harald Zink has identified several innovative technologies, including AI-based solutions, that could expand existing product lines and introduce new revenue streams. SPYR aims to maintain leadership in the competitive tech landscape. Further details on acquisitions will be disclosed as they materialize, emphasizing SPYR's commitment to growth in the IoT smart home and connected car markets.

Positive

• Exploration of AI-based and innovative technologies for potential acquisition.
• Focus on expanding product lines and enhancing intellectual property.
• Strategic aim to introduce new revenue streams and maintain competitive edge.

Negative

• None.

THE WOODLANDS, Texas, April 28, 2022 (GLOBE NEWSWIRE) -- via InvestorWire - SPYR Technologies (“SPYR” or the “Company”), a technology company whose subsidiary, Applied Magix, Inc., develops and resells Apple^® ecosystem compatible products in the growing multibillion-dollar smart home and connected car markets, is investigating possible acquisition targets to add essential intellectual property (IP) to its line of products, as well as new product lines.

“I’m always looking for new and innovative technologies, and as a result have come across several potentially awesome IP targets that might be worth acquiring,” said Applied Magix CEO Dr. Harald Zink. “Some of these are AI-based and would complement and expand some of our existing product lines really well. Others represent some significantly innovative technologies that could be at the core of new product lines.”

“In the tech business it is always important to stay at the forefront of the industry, and preferably several steps ahead. This is what Harry and Applied Magix are doing, and I am fascinated at some of the technologies that he finds,” states Tim Matula, chief executive officer of SPYR Technologies. “These are exactly the sort of technologies that could be complementary to Applied Magix’ products, while at the same time potentially bringing in new revenue streams based on these new technologies.”

Applied Magix does not discuss future products, or details of future acquisitions, and these considerations are currently of a speculative nature. Should any of these possibilities take on a more solid form, detailed press releases will be issued at such time. Keep an eye on the respective websites for SPYR Technologies and Applied Magix for more news and announcements.

Learn more about Applied Magix by visiting the company’s website at https://AppliedMagix.com.

Investors can learn more about SPYR at https://ir.spyr.com/.

About SPYR Technologies
SPYR Technologies (SPYR) is a technology company which, through its subsidiary Applied Magix Inc., develops and resells Apple^® 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.

About Applied Magix
Applied Magix, Inc. develops and resells Apple^® ecosystem compatible products in the growing multibillion-dollar IoT smart home and connected car markets.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investor Contact: (303) 991-8000 ir@spyr.com

Company Name: SPYR Inc, dba SPYR Technologies
Address: 6700 Woodlands Parkway, Ste 230 #331
The Woodlands, TX 77382
Email Address: ir@spyr.com
Public Relations Contact: ir@spyr.com   
Email address: ir@spyr.com  

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FAQ

What is SPYR Technologies planning regarding acquisitions?

SPYR Technologies is investigating potential acquisition targets to enhance its product lines and intellectual property.

What types of technologies is SPYR considering for acquisition?

SPYR is looking at several innovative technologies, including AI-based solutions, that could complement their existing products.

When will SPYR announce details about potential acquisitions?

Further details on acquisitions will be disclosed as they materialize and will be reported in press releases.

How does SPYR plan to expand its market presence?

SPYR aims to grow its footprint in the IoT smart home and connected car markets through strategic acquisitions.