Internet of Things Inc. & BrainGrid Corporation to Launch IoT Joint Venture

Internet of Things Inc. (TSX VENTURE: ITT) ("ITT" or the "Company") an IoT technology accelerator and industry acquisition company and BrainGrid Corporation ("BrainGrid") a designer, manufacturer, and marketer of advanced digital communication devices and software systems that enable the Internet of Things, have entered into a joint venture agreement. The joint venture company, BrainGrid Solutions Ltd. ("BrainGrid Solutions" or the "JV Company") will market, sell and distribute BrainGrid's flagship product, the 'Sentroller' and related BrainGrid IoT technology applications.
BrainGrid Solutions effectively enables clients a way to manage system devices by reducing costs, saving time, increasing reliability, scalability and overall system performance through advanced wireless monitoring and control. Initial markets include China, Taiwan and Hong Kong, while the JV Company continues to evaluate, negotiate and develop other international markets across a wide array of applications and verticals.
BrainGrid Solutions is owned equally by both parties and shall have a license to use BrainGrid's current and future developed intellectual property, including without limitation, API's, source code, data (derived from customers of BrainGrid Solutions), data analytics, patents and trademarks. The JV Company is also the exclusive partner/distributor for any current and future products, applications and services utilizing BrainGrid's intellectual property in markets such as China, Taiwan, Hong Kong as well as any other markets that the parties may agree upon.