In August 2015 sensewhere agreed to licence its leading indoor location solutions to Tencent Holdings Limited (“Tencent”, SEHK 00700). Tencent, a leading provider of Internet services in China, also completed a strategic investment in the company at the same time.
Tencent’s license enables it to use sensewhere indoor positioning software as part of its Tencent Map Location SDK that is available to numerous users across Tencent mobile platforms and mobile services of Tencent affiliate companies.
The cooperation will also help sensewhere develop potential partnerships in China’s mobile Internet space, deliver its mobile advertising service, fuel expansion of the company and its indoor location solutions.
As part of the arrangements, sensewhere will be Tencent’s preferred vendor for location based advertising services in China.
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The fact that Tencent has selected sensewhere’s location technology is a significant milestone for the company and is an endorsement of our technology, strategy and ability to deliver low cost, highly scalable and highly accurate universal indoor positioning.
The roll out of multiple services to millions of users across China and contiguous territories which incorporate sensewhere’s enabling technology has resulted in significant growth in sensewhere’s location database.
sensewhere software and database is providing hyper-local positioning while supporting in excess of 200 million location requests per day from nearly 1 billion users, a number that is expected to grow as Tencent launch new market leading services to its customers and users alike.
sensewhere firmly believes that it’s seamless, automatic Indoor Positioning System (IPS) and easy integration with mobile applications and devices will be the driving force behind emerging technologies, for example automatic beacon mapping, wearable technology, artificial intelligence, mobile advertising and of course using its live database to power next generation Location Based Services.
Tencent’s licence clearly highlights the advantage of sensewhere’s indoor positioning technology over other solutions and further cements sensewhere’s position as a leading IPS provider.
Julian Ma, Corporate Vice President of Tencent in Mobile Internet Group, commented about the deal:
“We believe that a superior, universal indoor positioning technology will deeply influence how people interact with each other, and significantly change how companies communicate with consumers and conduct commerce indoor across online and offline platforms. sensewhere’s unique, highly scalable approach will greatly enhance Tencent Map’s indoor positioning capabilities and enable our users to navigate indoor in a much more accurate and convenient manner.”