Route1 Inc. CEO, Tony Busseri, Discusses The Company's Acquisition Strategy with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - October 24, 2019) - The Stock Day Podcast welcomed Route1 Inc. (OTCQB:ROIUD) (TSXV:ROI.VN) ("the Company"), an advanced North American provider of data-centric business empowerment solutions. CEO of the Company, Tony Busseri, joined Stock Day host Everett Jolly.
Jolly began the interview by noting that the Company has experienced exceptional revenue increases over the past two quarters. "How did we get there and where do we go from here?" asked Jolly. "The largest signal driver of the jump can be attributed to Route1 closing on the acquisition of PCS Mobile on June 28th," said Busseri. "Overall, that resulted in our revenues and gross profits dramatically improving from Q2," added Busseri. He then discussed PCS Mobile's background, which operated as a computer reseller with expertise in mobile data applications. Busseri also shared that PCS Mobile is also a reseller of an automatic license plate recognition technology, which has been proven to be a successful revenue stream for the Company.
Busseri further explained that the Company's revenue increases have been the result of a diversified portfolio, representing great potential for the upcoming quarters.
Jolly then noted that Company's second quarter closed at CAD $3.4 million in revenue, while the third quarter resulted in revenues of CAD $8.7 million. Jolly then asked about the Company's recent announcement regarding their partnership with Genetec, and asked what it means for the Company going forward. "Genetec is a very large international player in the video management and license plate recognition space. We work with Genetec as a premier dealer to bring their license plate recognition technology to two verticals," shared Busseri, explaining that the primary verticals are within the law enforcement and parking lot operator space. "We're seeing a lot more use of this technology."
"We think the technology is fantastic, it fits well for us in our data analytics capability. We see ourselves growing aggressively with Genetec and bring that to the province of Ontario," added Busseri.
"What can we expect in the fourth quarter and going forward?" asked Jolly. Busseri explained that the Company will primarily be focused on operational execution to further improve upon their client solution and service delivery. He then elaborated on the Company's recent shift from an independent security software vendor to a solutions or outcome based company. "The markets have responded fairly well to us so far," said Busseri.
In terms of growth, Busseri explained that the Company expects to see organic growth, as well as acquisition growth. "We want to acquire additional businesses with one to two profiles," explained Busseri, adding that the Company is looking for high-quality business development talent with deep client relations, as well as early stage companies with strong intellectual property and technology.
To close the interview, Busseri shared that the Company has decreased the risk of its business model, while also improving their cash flow through strategic acquisitions. "We have a pretty strong revenue base, and a good story and strategy," said Busseri. "If you're into solutions versus products, and growth companies with a seasoned management team that knows how to build through acquisitions and organic growth, then we might be an interesting place to invest your money."
To hear Tony Busseri's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7404983-route1-inc-ceo-tony-busseri-discusses-the-company-s-acquisition-strategy-with-the-stock-day-po
Route1 Inc., also operating under the tradenames GroupMobile and PCS Mobile is an advanced North American technology company that empowers their clients with data-centric solutions necessary to drive greater profitability, improve operational efficiency and gain sustainable competitive advantages, while always emphasizing a strong cybersecurity and information assurance posture. Route1 delivers exceptional client outcomes through real-time secure delivery of actionable intelligence to decision makers, whether it be in a manufacturing plant, in-theater or in a university parking lot. Route1 is listed on the OTCQB in the United States under the symbol ROIUD and in Canada on the TSX Venture Exchange under the symbol ROI. For more information, visit: www.route1.com.
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