Last close As at 05/08/2026
EUR0.61
▲ −0.02 (−3.17%)
Market capitalisation
EUR35m
Research: TMT
myDevices, Claranova’s internet of things (IoT) business, has announced two distribution agreements for IoT in a Box. These deals provide access to the reseller and distributor networks of Alibaba Cloud and Ingram Micro, substantially widening the business’s access to the Chinese and US markets. We maintain our forecasts for the myDevices division but note that these deals offer the potential for material revenue contributions once the reseller networks are fully trained up on the product.
Claranova |
Adding new sales channels for myDevices |
Distributor agreements |
Software & comp services |
14 September 2018 |
Share price performance
Business description
Analysts
Claranova is a research client of Edison Investment Research Limited |
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myDevices, Claranova’s internet of things (IoT) business, has announced two distribution agreements for IoT in a Box. These deals provide access to the reseller and distributor networks of Alibaba Cloud and Ingram Micro, substantially widening the business’s access to the Chinese and US markets. We maintain our forecasts for the myDevices division but note that these deals offer the potential for material revenue contributions once the reseller networks are fully trained up on the product.
Year end |
Revenue (€m) |
EBITDA** (€m) |
PBT* |
EPS* |
DPS |
P/E |
EV/EBITDA |
06/17 |
130.2 |
(5.0) |
(6.6) |
(0.02) |
0.0 |
N/A |
N/A |
06/18e |
161.5+ |
3.4 |
2.1 |
0.01 |
0.0 |
168.0 |
110.3 |
06/19e |
232.0 |
16.7 |
13.0 |
0.02 |
0.0 |
49.7 |
22.4 |
06/20e |
271.9 |
28.2 |
24.6 |
0.04 |
0.0 |
25.6 |
13.3 |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments. **Claranova definition. +Actual.
myDevices has just announced two distribution agreements for IoT in a Box, its plug-and-play IoT solution. The first is with the IoT unit of Alibaba Cloud in China: myDevices will market and sell IoT in a Box through Alibaba Cloud’s existing reseller distribution network. The second agreement is with Ingram Micro (a global technology distributor with 200,000 resellers), in collaboration with Sprint, myDevices’ existing partner in the US. In this case, myDevices is offering a 30-day free trial period to qualified potential customers. In both cases, resellers will be provided with sales & marketing materials and training. As it will take time to educate resellers about the product, we do not expect an immediate impact on revenues. However, we see scope for these relationships to add materially to myDevices’ revenues in the longer term. Pending evidence on the rate of adoption of the solution through both schemes, we maintain our forecasts.
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Disclaimer
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Disclaimer
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Avon Rubber’s pre-close trading statement demonstrates the underlying growth in both divisions. Success continues to flow from the enhanced product portfolio and order progression is building visibility. We have made modest changes to our forecasts to reflect currency and the Merrick’s acquisition.