Junior tech business MGM Wireless Limited (ASX: MWR) hit a 52-week high of $1.58 this morning after announcing that it will launch its Pinpoint Family Locator app to conincide with the release of the highly-anticipated Apple Watch.
MGM Wireless is in the business of selling communication technology solutions to schools to help them manage daily administrative tasks and monitor key deliverables like student attendance, safety and parent engagement.
For example its technology allows a school to record its roll calls in the cloud and instantaneously message all or an individual number of parents with important information related to the school or their children.
These easy to sell solutions save schools time and money and unsurprisingly sales have been on fire as schools are prepared to pay up to enjoy the benefits of MGM Wireless's futuristic services.
Today's announcement suggests MGM is branching out from helping schools monitor pupils to helping families monitor their own members. MGM Wireless's app used in conjunction with the Apple watch alerts wearers if a child or elderly relative for example does not arrive at a pre-set destination.
The Apple Watch is due to be released April 24 2015 and is likely to be a big seller given the huge market and publicity.
MGM Wireless's family locator app will sell through the Apple App store for $4.99, although whether it proves as compelling as the Apple Watch remains to be seen.
However, MGM Wireless remains a profitable, fast-growing business with potential to grow in multiples above its tiny market value.
Larger tech start-up businesses showing the way in how to profit from the rise of cloud-based communication solutions include My Net Fone Limited (ASX: MNF) and BigAir Group Limited (ASX: BGL).
