Trakm8 Holdings PLC Significant hardware order with UK insurance comp (4353X)
13 January 2014 - 6:00PM
UK Regulatory
TIDMTRAK
RNS Number : 4353X
Trakm8 Holdings PLC
13 January 2014
13 January 2014
TRAKM8 HOLDINGS PLC
('Trakm8' or 'the Group')
Significant hardware order with a UK insurance company
Trakm8, the AIM-listed designer, developer and manufacturer of
licensed GPRS based hardware and software for the vehicle placement
and security market, is pleased to announce the award of a
significant hardware order with a UK insurance company.
Trakm8 has been awarded a GBP1.2m hardware order for telematic
units with the bulk of the revenues expected in our next financial
year commencing 1 April 2014. This hardware order is expected to be
followed by a service support contract providing additional and
long-term recurring revenues for the Group.
Trakm8 will be supplying hardware based on our next generation
components and the first of a family of new products called T10.
The T10 Micro is a full function telematics tracking device with
CANbus communications. This self-installed device is fitted to the
vehicle diagnostic socket and is probably the smallest such unit
available today. As a result over 92% of vehicles could be fitted
during the trial process. Integration work has been undertaken to
meet the insurance company's specific requirements.
John Watkins, Executive Chairman of Trakm8 commented:
"This significant order is validation of our investment in a
larger engineering and sales resource and is the largest order ever
received by the Group. We will be manufacturing the devices in our
newly acquired Box Telematics facility, reflecting the benefits of
the resources that this business adds to the Group as a whole."
-ends-
For further information please contact:
Trakm8 plc 01747 858444
John Watkins, Executive Chairman
James Hedges, Finance Director
MHP Communications 020 3128 8100
Reg Hoare / Vicky Watkins
finnCap 020 7220 0500
Ed Frisby / Christopher Raggett - corporate finance
Simon Starr - corporate broking
About Trakm8
Trakm8, based in Shaftesbury, Dorset is a leading technology
provider, designer, developer and manufacturer of GPRS based
hardware and software to the vehicle tracking and security market.
The Group distributes its hardware and software worldwide through a
network of distributors. In addition the Group provides vehicle
monitoring and tracking services direct to the B2B market. Trakm8's
products allow vehicles and drivers to be monitored, allowing
organisations to manage deliveries and services, or track stolen
vehicles down to five metres.
Services also include driver behavior management solutions that
can reduce fuel consumption by 10% or more, logistics routing &
scheduling packages, and tachograph data reporting. Major customers
include Eon, St Gobain, the AA and Fujitsu.
www.trakm8.com
This information is provided by RNS
The company news service from the London Stock Exchange
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