LiteLink Technologies (LLT.C) got a 26.7% boost today on the news that they’ve acquired industrial Internet of Things company, 3030 IoT, which provides sensors to waste management companies.
3030 IoT will help improve LiteLink’s Shift Insights artificial intelligence program, outfitting waste management companies with tougher bin sensors and enhanced container visibility.
“In a world where 90% of all waste is picked up at the wrong time, 3030 IoT will complement LLT’s Shift Insights AI platform to bring in-bin sensors powered by cloud software and AI and give waste management providers real-time fill level and location driven insights,” said Peter Green, LiteLink Technologies CEO in a press release.
LiteLink deals in technologies across multiple different sectors—a few of which are cryptocurrency and blockchain, artificial intelligence, cloud technologies and gaming. They invest in and provide subject matter experts within companies to boost the success and maximize value for their shareholders.
“Over the last 12 months we’ve seen that global supply chains and distribution will change, Shift Insights will play an important role in this process. The ability to help the global waste management space maximize profitability, improve customer experience, generate more revenue, optimize collection routes and schedules, and increase driver safety, is paramount to the foundation of this platform. The global waste management industry will reach $445 billion over the next two years, and is experiencing much innovation in areas of AI and IoT; with the smart sensor waste management space growing 30% year over year, this acquisition represents a further commitment to our thesis of investing in emerging technologies poised for growth to bring maximum value back to our shareholders,” said Peter Green, CEO for Litelink.
Smart cities and all of the technology that goes into them are in demand right now. There’s a large push in various tech industries, from multiple different sources, to fuel not only the behavioural surplus markets favoured by tech giants Facebook and Google, but also the inverse components like IoT. That’s where a company like LiteLink comes in, and that’s reflected in their chart. The numbers here speak for themselves. Two months ago, they were at a penny and a half. Now they’re at $0.10.