MGM Wireless Limited (ASX:MWR) is recognised as a global leader and pioneer in socially responsible technology for schools and families.
Founded in 2001, and listed on the Australian Stock Exchange in 2003, the Company currently has two business divisions: School Engagement & Attendance Management and AllMyTribe.
In 2002, the pre-smartphone era, the Company was one of the first to build a sustainable business model around emerging SMS technology, discovering its power for schools as a method of two-way parent engagement. The company went on to create the world’s first SMS based Automated Student Absence Notification Solution, MessageYou.
Many more innovations followed, with MGM continuing to stay ahead of the curve. Its strong focus on R&D produced successful products such as electronic rollmarking (RollMarker), intelligent messaging (OutReach+), analytics (WatchLists) and customisable school news apps (SchoolStar).
Used by over 1,400 schools and 1.6 million parents, the company’s solutions empower schools to improve student attendance and safety, increase parent engagement, and reduce operating costs.
In the past three years, the company has undergone a stunning transformation by becoming a significant international wearables business, built around the success of the SPACETALK® all-in-one children’s smart watch, phone and GPS device, the first product in the AllMyTribe family connections ecosystem.
In its first full year of sales, SPACETALK® delivered sales and industry-wide acceptance well beyond expectations.
The result was an increase in total revenue of 161% as the company capitalised on demand, achieving strong sales momentum.
With a history of paying dividends and tight capital management, the company appears set for further expansion of its domestic and international markets in 2020.
Finance News Network interviews MGM Wireless CEO Mark Fortunatow about SPACETALK’s UK Sky and QVC deals and New Zealand expansion.