Skkynet is a Nevada corporation headquartered in Mississauga, Canada. The company provides software and related systems that collect, process, and distribute real time information over networks, enabling customers to manage, supervise, and control industrial processes and financial information systems. Skkynet operates in the industrial automation and Industrial Internet of Things (IIoT) market, often referred to as Industry 4.0.
Skkynet generates revenue from software…
Skkynet is a Nevada corporation headquartered in Mississauga, Canada. The company provides software and related systems that collect, process, and distribute real time information over networks, enabling customers to manage, supervise, and control industrial processes and financial information systems. Skkynet operates in the industrial automation and Industrial Internet of Things (IIoT) market, often referred to as Industry 4.0.
Skkynet generates revenue from software licensing for industrial automation systems, software licensing for OEM customers, software support program renewals, legacy installation support, custom integration and development, monthly support revenue from financial clients, and SaaS revenue from its Cogent DataHub service for Microsoft Azure. More than 70% of its revenue comes from software licensing for industrial automation systems, while the remainder is derived from financial trading, software support, custom development, and legacy system support. The company sells to systems integrators, OEMs, resellers, and end user customers across a broad range of industries.
Skkynet holds a niche position in the industrial automation sector, competing with larger players such as Siemens, ABB, Emerson Process Management, Rockwell Automation, Honeywell Process Solutions, Schneider Electric, GE Invensys, and PTC. Its software is compatible with competitors' products, allowing customers to use both in the same system. Competitive advantages include patented technology that enables secure, real time data transmission via outbound only connections, eliminating the need for open inbound firewall ports or VPNs, and providing high data rates, low latency, and full bidirectionality. The company also benefits from over 25 years of development, thousands of installations worldwide, and a proven track record with customers such as Siemens, ABB, BASF, and Equinor.
Skkynet serves more than 3,000 customers in sectors including Aerospace, Automation & Control, Chemicals, Communications, Education, Engineering, Energy & Utilities, Financial, Food & Beverage, Government & Municipal, Healthcare & Pharmaceutical, Instrumentation, Manufacturing, Natural Resources, and System Integrators. Specific customer names disclosed in the filing are Siemens, ABB, BASF, and Equinor. The company also works with resellers, with a small group of resellers accounting for roughly half of its sales in recent years.