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Intermap Technologies Reports 2014 Second Quarter Financial Results

DENVER, Aug. 11, 2014 /PRNewswire/ - (TSX: IMP) - Intermap Technologies Corporation ("Intermap" or the "Company") today reported financial results for the second quarter ended June 30, 2014. A conference call will be held tomorrow, August 12th, at 10:00 a.m. Eastern Time to discuss the results.

All amounts in this news release are in United States dollars unless otherwise noted.

Intermap reported total revenue of $2.4 million for the second quarter of 2014, a 12% increase from the first quarter of the year. Second quarter revenue of $2.4 million is compared to $8.9 million in the same period of 2013. During the second quarter of last year, $7.6 million of mapping services revenue was recognized on a new $15.0 million contract that was announced earlier in the year. No similar sized contract was closed during the first six months of the current year, making up the majority of the variance between the current year and the prior year periods. Net loss for the second quarter of 2014 was $3.5 million, or ($0.04) per share, compared to a net profit of $170 thousand, or ($0.00) per share, for the second quarter of 2013. Second quarter adjusted EBITDA, a non IFRS financial measure, was a loss of $2.8 million, a decrease from an adjusted EBITDA profit of $2.2 million for the same period in 2013. Adjusted EBITDA excludes share-based compensation, gain or loss on the disposal of equipment, and gain or loss on foreign currency translation.

"Our continued focus during the quarter was the further development of our 3DBI® (3D business intelligence) software applications," said Todd Oseth, President & CEO of Intermap. "We're pleased to report that during the quarter we successfully introduced two new 3DBI software applications; InsitePro™ and GeoPro Server™. InsitePro is a Software-as-a Service ("SaaS") product built to analyze location specific risk caused by natural catastrophes. It is a powerful tool that gives users the ability to evaluate risk for locations one-by-one or thousands at a time via innovative risk models and analytics. GeoPro Server is the centerpiece of our Orion Platform®. It functions as a geospatial-data agnostic server deriving actionable answers from "big data". The application allows users (novice, or geospatial expert) to turn disparate geospatial data into simple to use information."

Mr. Oseth added, "Shortly after the introduction of InsitePro, we announced that a Top 10 Global Reinsurer had entered into an agreement with Intermap to license the application for use in a Latin American country. We see this as a significant endorsement for the application and we are optimistic that additional licenses will follow not only from this customer, but from other potential customers around the world."

"In addition to our progress on 3DBI software applications, we continue to progress towards the closing of a major international Orion Platform spatial data infrastructure contract," added Mr. Oseth. "The availability of our recently announced 3DBI software applications plays a pivotal role in winning Orion Platform projects. These projects are primarily government sourced and are inherently very complicated. They typically carry long sales cycles due to (i) the dollar magnitude of the contract, (ii) the individual country's political landscape, (iii) the timing of budgets, (iv) the multi-agency and multi-level government approval process, (v) the complexity of the project, and (vi) the funding mechanisms required for the project (i.e. banking syndicates). We remain optimistic that we will be able to announce the signing of one or more of these contracts before the end of the year, but due to the factors mentioned above, the actual timing is very difficult to predict."

Financial Review

Consolidated revenue for the second quarter of 2014 totaled $2.4 million and included (i) $0.1 million in mapping services, (ii) $0.2 million in professional services, (iii) $1.8 million in data licensing, and (iv) $0.3 million in 3DBI software licensing. For the same period in 2013, consolidated revenue totaled $8.9 million and included (i) $7.6 million in mapping services, (ii) $0.2 million in professional services, (iii) $0.7 million in data licensing, and (iv) $0.4 million in 3DBI software licensing. Contract backlog at the end of the quarter totaled $0.4 million.

For the second quarter of 2014, personnel expense was $3.1 million, compared to $3.2 million in the previous year. The decrease was primarily due to reduced commission expense consistent with decreased revenue recognized on a year-over-year basis.

For the second quarter of 2014, purchased services and materials expense was $1.5 million, compared to $2.7 million during the same period last year. The decrease in this category of expense is primarily due to project specific costs associated with airborne data collection efforts in the previous year with no similar work under contract in the current year. Purchased services and materials includes (i) aircraft related costs, including jet fuel, (ii) professional and consulting costs, (iii) third-party support services related to airborne data collection efforts, processing and editing of the Company's data collection efforts, and (iv) software expenses (including maintenance and support).

The cash position of the Company at June 30, 2014 (cash and cash equivalents) was $3.9 million, compared to $2.4 million at December 31, 2013. Amounts receivable and unbilled revenue at June 30, 2014 was $3.1 million, compared to $6.6 million at December 31, 2013. Working capital was negative $2.6 million at June 30, 2014, compared to positive $3.9 million at December 31, 2013 (see "Intermap Reader Advisory" below).

Detailed financial results and management's discussion and analysis can be found on SEDAR at: www.sedar.com.

Second Quarter Business Highlights (Previously Announced)

  • Intermap announced the launch of InsitePro™, a SaaS based product built on its history of providing risk solutions worldwide. The application was purpose-built to visualize and analyze location-specific risk caused by natural catastrophes. It provides property and casualty carriers, insurance brokers, enterprise risk managers, and government agencies with a powerful tool to evaluate locations one-by-one, or thousands at a time via innovative risk models and analytics. InsitePro is the only risk management application that accesses Intermap's WorldFlood™ model, which forecasts uniform flood coverage anywhere in the world.

  • Intermap announced an agreement to license its InsitePro software application to a Top 10 Global Reinsurer for use in a specific Latin American country. InsitePro leverages Intermap's best-in-class NEXTMap® and NEXTMap World 30™ elevation data. Point-specific ground elevation allows users to go beyond flood models to better understand the risk of flood by determining heights above flood elevation, flow routes from rivers to buildings, and safer locations for new infrastructure and buildings. InsitePro can also display a customer's proprietary risk data or any available government data.

  • Intermap announced the commercial availability of GeoPro Server, a server purpose-built for turning big data into smart decisions. GeoPro Server allows users (novice and geospatial expert) to turn disparate geospatial data into simple to use information. The application can provide enterprises and governments with easy access to all of their geospatial and non-geospatial data via a web service or web portal without regard to the data's source or original file format. GeoPro Server offers a multi-touch display that allows users to control terabytes of data from a tablet or laptop.

  • Intermap was awarded a commercial third-party database license to use the Traffic Audit Bureau ("TAB") ratings in its AdPro® software. After successfully passing TAB's rigorous technical standards and audit committee, AdPro now provides access to the TAB Ratings Database. By leveraging standardized TAB ratings directly within AdPro, users can measure return on investment for their out-of-home campaigns utilizing a trusted ratings system similar to those used in TV and radio campaigns.

  • The Company announced a $1.0 million contract to provide digital elevation data and orthorectified radar imagery from its NEXTMap® database. The data will be used by the customer for geospatial related applications and the delivery of the data occurred during the second quarter 2014.

  • Intermap introduced its new Vice President of Sales, Jon Freeman. Mr. Freeman is a technology and sales veteran bringing twenty years of consistent sales production and executive management experience to the position along with a successful record for business development in a variety of software/high-tech industries. Mr. Freeman most recently served as Vice President Sales for Solarwinds/Confio Software Inc., a leading provider of software solutions delivering database, server, storage, and networking tools.

  • Intermap announced the appointment of David Sikes to its Board of Directors effective April 9, 2014. Mr. Sikes is a Principal for Exeter Consulting, specializing in consulting for technology start-up companies. He has held technical and executive roles in technology based companies throughout his entire career. He has also held key board positions with several technology companies including most recently ten years with an internet/Software-based/B-to-B marketing company in the automotive industry.

As of August 11, 2014, there were 91,782,665 common shares outstanding.

Important factors, including those discussed in the Company's regulatory filings (www.sedar.com) could cause actual results to differ from the company's expectations and those differences may be material. Detailed financial results and management's discussion and analysis can be found on SEDAR at: www.sedar.com.

Conference Call

Intermap will host a conference call tomorrow, August 12, 2014, at 10:00 am ET (8:00 am MT). To participate in the call, please dial +1-647-427-7450 or 1-888-231-8191 approximately 10 minutes prior to the conference call and provide conference ID 76815260. A recording of the conference call will be available through October 31, 2014. Please dial +1-416-849-0833 or 1-855-859-2056 and provide pass code 76815260 to listen to the rebroadcast. The call will also be available on Intermap's website at http://www.intermap.com/en-us/investors.aspx for replay.

About Intermap Technologies

Headquartered in Denver, Colorado - Intermap (www.intermap.com) is an industry leader in geospatial solutions on demand. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of GIS data into a single source, Intermap is able to provide location based solutions for customers in diverse markets around the world that solve today's complex geospatial challenges.

Adjusted EBITDA is not a recognized performance measure under GAAP and does not have a standardized meaning prescribed by IFRS. The term EBITDA consists of net income (loss) and excludes interest, taxes, depreciation, and amortization. Adjusted EBITDA is included as a supplemental disclosure because management believes that such measurement provides a better assessment of the Company's operations on a continuing basis by eliminating certain non-cash charges and charges that are nonrecurring. The most directly comparable measure to adjusted EBITDA calculated in accordance with IFRS is net income (loss).

Intermap Reader Advisory

Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. You can find a discussion of such risks and uncertainties in our Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

Reference is made to the Company's audited Consolidated Financial Statements for the years ended December 31, 2013 and 2012, together with the accompanying notes, which includes a going concern disclosure and such disclosure remains applicable as of the date of the financial statements included herein.

INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Balance Sheets
(In thousands of United States dollars)
(Unaudited)
                         
                           
                      June 30,       December 31,
                      2014       2013
                               
Assets                          
                               
Current assets:                          
  Cash and cash equivalents           $     3,920     $ 2,420
  Amounts receivable                 2,880       6,434
  Unbilled revenue                 175       151
  Work in process                 16       33
  Prepaid expenses                 449       407
                      7,440       9,445
                               
Property and equipment                 3,164       3,378
Intangible assets                 57       116
                $     10,661     $ 12,939
                               
Liabilities and Shareholders' Equity                          
                               
Current liabilities:                          
  Accounts payable and accrued liabilities           $     3,864     $ 3,953
  Convertible note                 4,710       -
  Current portion of notes payable                 1,112       1,188
  Current portion of deferred lease inducements                 133       188
  Unearned revenue and deposits                 122       110
  Income taxes payable                 7       12
  Obligations under finance leases                 118       115
                      10,066       5,566
                           
Long-term notes payable                 44       -
Deferred lease inducements                 331       202
Obligations under finance leases                 132       192
                      10,573       5,960
                               
Shareholders' equity:                          
  Share capital                 197,464       197,376
  Accumulated other comprehensive income                  38       37
  Contributed surplus                 11,054       10,671
  Deficit                 (208,468)       (201,105)
                      88       6,979
                               
                $     10,661     $ 12,939
                           

                                       
INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Profit and Loss and Other Comprehensive Income
(In thousands of United States dollars, except per share information)
(Unaudited)
                                       
              For the three months       For the six months
              ended June 30,       ended June 30,
              2014       2013       2014       2013
                                       
Revenue           $ 2,353     $ 8,877     $ 4,457     $ 13,970
                                       
Expenses:                                      
  Operating costs             5,274       6,862       11,041       12,183
  Depreciation of property and equipment             295       365       587       724
  Amortization of data library             -       1,153       -       2,305
  Amortization of intangible assets             30       30       59       59
              5,599       8,410       11,687       15,271
                                       
Operating (loss) income             (3,246)       467       (7,230)       (1,301)
                                       
Gain on disposal of equipment             51       200       413       204
Financing costs              (308)       (228)       (512)       (450)
Financing income             1       -       8       -
Loss on foreign currency translation             (43)       (269)       (121)       (236)
(Loss) income before income taxes             (3,545)       170       (7,442)       (1,783)
                                       
Income tax (expense) recovery:                                      
  Current             -       -       -       (47)
  Deferred             -       -       79       -
              -       -       79       (47)
                                       
Net (loss) income for the period           $ (3,545)     $ 170     $ (7,363)     $ (1,830)
                                       
Other comprehensive income (loss):                                      
  Foreign currency translation differences             2       3       1       (34)
                                       
Comprehensive (loss) income for the period           $ (3,543)     $ 173     $ (7,362)     $ (1,864)
                                       
Basic (loss) income per share           $ (0.04)     $ 0.00     $ (0.08)     $ (0.02)
Diluted (loss) income per share           $ (0.04)     $ 0.00     $ (0.08)     $ (0.02)
                                       
Weighted average number of Class A                                       
  common shares - basic             91,648,742       79,174,911       91,622,212       79,032,206
  common shares - diluted             91,648,742       79,646,130       91,622,212       79,032,206
                                         

                                                         
INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Changes in Equity
(In thousands of United States dollars)
(Unaudited)
                                                         
            Share
Capital
    Contributed
Surplus
    Cumulative
Translation
Adjustments
    Deficit     Total
                                                         
Balance at December 31, 2012           $     194,144     $ 10,354     $ 58     $   (186,198)     $     18,358
                                                         
Comprehensive loss for the period                 -       -       (34)         (1,830)           (1,864)
Share-based compensation                 81       168       -         -           249
Convertible note conversion                 1,817       -       -         -           1,817
Conversion option of convertible note                 79       (79)       -         -           -
                                                         
Balance at June 30, 2013           $     196,121     $ 10,443     $ 24     $   (188,028)     $     18,560
                                                         
Comprehensive profit (loss) for the period                 -       -       13         (13,077)           (13,064)
Share-based compensation                 -       281       -         -           281
Convertible note conversion                 1,208       -       -         -           1,208
Conversion option of convertible note                 57       (57)       -         -           -
Issuance costs                 (10)       4       -         -           (6)
                                                         
Balance at December 31, 2013           $     197,376     $ 10,671     $ 37     $   (201,105)     $     6,979
                                                         
Comprehensive profit (loss) for the period                 -       -       1         (7,363)           (7,362)
Share-based compensation                 40       193       -         -           233
Warrant component of convertible note                 64       -       -         -           64
Conversion option of convertible note                 -       259       -         -           259
Issuance costs                 (1)       (5)       -         -           (6)
Deferred tax effect of convertible note                 (15)       (64)       -         -           (79)
                                                         
Balance at June 30, 2014           $     197,464     $ 11,054     $ 38     $   (208,468)     $     88
                                                         

                                 
INTERMAP TECHNOLOGIES CORPORATION
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of United States dollars)
(Unaudited)
                               
                                 
For the Six Months Ended June 30,           2014       2013
                                 
Cash flows provided by:                                
                                 
Operating activities:                                
  Net loss for the period           $     (7,363)       $     (1,830)
  Adjusted for the following non-cash items:                                
    Depreciation of property and equipment                 587             724
    Amortization of data library                 -             2,305
    Amortization of intangible assets                 59             59
    Share-based compensation expense                 233             249
    Gain on disposal of equipment                 (413)             (204)
    Amortization of deferred lease inducements                 (42)             (94)
    Deferred taxes                 (79)             -
    Financing costs                 512             450
    Current income tax expense                 -             47
    Interest paid                 (12)             (49)
    Income tax paid                 (5)             (29)
  Changes in working capital:                                
    Amounts receivable                 3,764             (1,310)
    Work in process and other assets                 (49)             933
    Accounts payable                 (447)             345
    Accrued liabilities                 (9)             (122)
    Unearned revenue and deposits                 12             (86)
    Gain on foreign currency translation                 (1)             (25)
                  (3,253)             1,363
                                 
Investing activities:                                
  Purchase of property and equipment                 (437)             (259)
  Proceeds from sale of equipment                 353             112
                  (84)             (147)
                                 
Financing activities:                                
  Proceeds from issuance of convertible note                 5,000             -
  Financing costs of convertible note                 (93)             -
  Proceeds from reimbursable project funding                 44             -
  Repayment of obligations under finance lease                 (57)             (176)
  Repayment of long-term debt and notes payable                 (65)             (419)
                  4,829             (595)
                                 
Effect of foreign exchange on cash                 8             (16)
                                 
Increase in cash and cash equivalents                 1,500             605
                                 
Cash and cash equivalents, beginning of period                 2,420             2,055
                                 
Cash and cash equivalents, end of period           $     3,920       $     2,660
                                 

SOURCE Intermap Technologies Corporation

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The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...