SerVision plc New Agreement in Kazakhstan (9655B)
13 January 2015 - 6:00PM
UK Regulatory
TIDMSEV
RNS Number : 9655B
SerVision plc
13 January 2015
13 January 2015
SerVision plc
("SerVision" or the "Company")
New Agreement in Kazakhstan
SerVision (AIM: SEV), the AIM quoted developer and manufacturer
of digital video security systems, is pleased to announce that
SerVision Limited, the Company's wholly owned subsidiary, has
entered into purchase agreements with Crosstone Trading Limited
("Crosstone") and A&A Traffic Technologies Limited ("A&A")
in Kazakhstan for the supply of SerVision's video gateway products
for buses in Astana, Kazakhstan (the "Agreements").
Crosstone and A&A, operating in partnership with and under
the same umbrella as SMEU-Astana, will be delivering SerVision's
fully integrated mobile video system for this project. These
companies have extensive experience in providing surveillance
solutions to the transportation sector in Kazakhstan.
Under the terms of the Agreements, Crosstone and A&A have
committed to an initial purchase order with an aggregate value of
US$415,000 for which US$207,500 in cash has been paid to SerVision
and the balance is expected to be paid to SerVision within 4 weeks
from the order delivery date.
The Agreements are for the supply of 360 MVG400 units with the
end-user of the units being bus operator Astana LRT LLP. The
Company will also be supplying the SVControlCenter, SerVision's
enterprise-level video monitoring software platform, as well as the
SVProxy server solution, a proprietary server designed to overcome
a range of cellular network related challenges.
Gidon Tahan, Chairman and CEO of SerVision, commented, "We are
pleased to enter into these agreements to supply SerVision's video
gateway products in Kazakhstan, another new geography for
SerVision, and to further deploy our mobile video streaming
technology for the purpose of providing security on buses in
Astana, Kazakhstan. We are currently in negotiations with the
parties for a further purchase order and are confident that our
relationship with Crosstone, A&A and SMEU will develop further
over the coming years."
-ends-
SerVision plc +972 2535 0000
Gidon Tahan, Chairman and CEO
Allenby Capital Limited (Nominated Adviser
and Broker) +44 (0)20 3328 5656
Nick Athanas / James Reeve
Leander (Financial PR)
Christian Taylor-Wilkinson +44 (0)7795 168 157
Notes to Editors
SerVision is a pioneer in the field of security communications
technology and a leading developer and manufacturer of fully
integrated video recording and transmission systems for homeland
security and transportation applications. The Company's core
technology is proprietary video compression which is optimised for
streaming real-time video over any type of cellular or narrowband
network.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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