NXT-ID Acquisitions Bearing Fruit as Company Squares Focus on IoT
NXT-ID, Inc. (NXTD) has transformed tremendously in the past year, executing on an acquisition strategy to build upon its legacy technology to transform from a bit of a one-trick pony to that of a diversified company with increasing revenues and a multi-prong attack that addresses the booming Internet of Things (IoT) market. Thanks to the closing of the buyout of LogicMark, LLC last July and a new rewards card technology program with WorldVentures, revenues surged in the first quarter. With the recent combination of businesses with Fit Pay, the developer and owner of a technology platform that adds contactless payment capabilities to wearable devices, shareholders are likely to see continued improvements in the fundamentals at NXT-ID going forward.
Through organic efforts and acquisitions, the company now has a portfolio of core technologies integral to the next-generation of IoT, enveloping payment, encryption, miniaturization, sensors, advanced biometrics and cloud services. Read more…