Publish Date : 10-Jun-2013
iSIGN Media Solutions Inc., a leading provider of interactive mobile advertising solutions that serves advertisers, manufacturers, retailers and advertising agencies throughout North America, is pleased to announce that it has signed a Letter of Intent ("LOI") with Metro LED Sign and Light ("Metro") for the installation of iSIGN's Smart Antennas into Metro's client base of approximately 6,600 convenience stores ("c-stores") located across the south eastern United States.
Metro will be issuing a purchase order for an initial 1,200 Smart Antennas ("Antennas"), with an immediate delivery of 120 Antennas for testing and demonstration purposes upon receipt of the order. This initial shipment is to test a group of small networks in five major cities – Houston, Dallas and Austin, Texas; Memphis, Tennessee and Atlanta, Georgia for the benefit of c-store brands and advertisers who have expressed an interest in the National Mobile Network. Metro and GraphicMedia, Inc. ("Graphic") have partnered to operate the c-store footprint under the brand name of the "National Mobile Network", which will now include both gas stations and c-stores.
Metro, iSIGN and GraphicMedia, Inc., iSIGN's national distributer, have agreed upon the pricing of the Antennas for this order, as well as for the monthly data hosting fee. The monthly data hosting fee will commence 90 days after the first 120 units are installed, to allow Metro to fully demo the units to advertisers and c-store brands. It is expected that installation of the units will be completed within one month of delivery.
Metro has committed to fulfill the initial 1,200 Antenna order within one year. Metro will receive exclusive marketing rights for the independently owned and operated c-stores within the United States. The marketing rights will be for a period of five years, with an option to renew for an additional five year period.
"This installation marks the start of the expansion of the National Mobile Network beyond National Oil and Marathon," stated Mr. Alex Romanov, iSIGN's Chief Executive Officer. "It will provide us with a one-time immediate revenue for the sale of our Antennas and will start to generate monthly recurring revenue very shortly."
"In addition, it will expand our geographic coverage, enabling us to gather data from new sources which will give our data analysts additional data from which to cull relevant saleable insights," added Mr. Romanov.
"GraphicMedia has worked for months to complete this partnership, with the objective of expanding the gas station/c-store footprint to a 10,000 location footprint," stated Mr. Ron Leman, GraphicMedia's Chief Executive Officer and President, iSIGN's exclusive distributor for the Americas.
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