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VIQ Solutions Inc (TSXV: VQS) - Investment Highlights
- Focussed on government sector, VIQ Solutions has successfully transitioned from a low-end digital recording solutions company to a "best-in-class" high - end service provider that can channel large amounts of information through multiple stake holders and is riding the wave of e- transformation happening in law-enforcement and courts worldwide.
- VIQ Solutions has signed a global licensing agreement with technology giant Cisco Systems Inc. This has resulted in VIQ software being deeply integrated in a range of Cisco hardware products within their Connected Justice product suite. This agreement helps VIQ to leverage the global sales force and distribution network of Cisco Systems to participate in enterprise level opportunities.
- Its strategic relationship with global system integrators Logica (LOG-LSE) and Atos Origin (ATO-Euronext) to provide digital audio recording and information management solutions has lead to a large contract for 594 courtroom installations across U.K.
- Beyond financials, the contracts with U.K. courts validate its technology platform and provide a great reference, as it is considered the gold standard in Europe.
- The competition is limited and mostly focused on low-end audio and video collection at the courtrooms. Led by a strong and experienced management team, we estimate the company has an attractive opportunity to achieve revenue growth coupled with significant margin expansion.
- Ubika Research has initiated research coverage of VIQ Solutions Inc with a Ubika Model Price (UMP) of $0.80 per share.
