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Genetic products company Affymetrix Inc. (AFFX - Analyst Report) recently announced that iPass Inc. (IPAS), the leading global provider of Wi-Fi and enterprise mobility services, will provide global Wi-Fi connectivity for its workforce via its iPass Open Mobile service.
Enterprise mobility service as a discipline has gained attention in recent years. It caters to the business needs of technology focused firms. The efficient management of streamlined business processes via enterprise mobility is the trademark of pioneering organizations such as Affymetrix.
iPass Open Mobile provides secure and cost-effective services for enterprise mobility which allows Affymetrix employees to be globally mobile, based on an array of devices. It also administers access to the largest Wi-Fi network in the world encompassing over one million hotspots.
With the global Wi-Fi connectivity, Affymetrix intends to improve timely access of corporate data for its employees. Per management, the enterprise mobility services provided by iPass Open Mobile will improve data management on mobile devices. This will curtail communication costs while increasing the productivity of business travelers.
Affymetrix holds a leading position in the gene expression products and services market. Along with Illumina Inc. (ILMN - Snapshot Report), it is one of the two major providers of microarray technologies, primarily used in the field of genetic research.
Affymetrix is shifting its research and development (R&D) focus from the discovery and exploration markets to the faster-growing validation and routine testing markets. The company considers cytogenetics and cancer research to be promising areas for expansion, representing market opportunities of roughly $200 million and $500 million, respectively.
However, Affymetrix operates in an intensely competitive industry and faces risks associated with lower microarray demand and R&D spending by its customers. Such danger could arise due to a weak economy and government actions including budget cuts.
We currently have a Neutral recommendation on Affymetrix. The stock carries a short-term Zacks #2 Rank (Buy).
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