12 September 2014
TRAKM8 HOLDINGS PLC
("Trakm8" or the "Group")
Trakm8 extends reach into a new territory with SAGAsystem AS contract win
Trakm8, the AIM listed telematics and data supplier to global markets, is pleased to announce that it has signed a contract with Norwegian company SAGAsystem AS ("SAGA") to distribute the T8 tracking units and real time driver behaviour feedback product, ecoN throughout its network in Scandinavia, representing a new territory for Trakm8.
The initial order for the UK manufactured hardware is worth over £270,000, which will be followed with ongoing monthly service charges for each unit, providing a solid recurring revenue base for the Group. The initial order is expected to be delivered to SAGA by the end of 2014.
John Watkins, Executive Chairman of the Trakm8 Group commented: "We are delighted to have partnered with SAGA in the distribution of our products throughout Scandinavia, which marks a new territory for sales of ecoN. SAGA is well respected throughout the industry and we are confident that they will be successful with distributing our products to their customer base."
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For further information please contact:
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Trakm8 Holdings plc |
01747 858444 |
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John Watkins, Executive Chairman |
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James Hedges, Finance Director
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MHP Communications (Financial PR to Trakm8) |
020 3128 8100 |
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Reg Hoare / Vicky Watkins |
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finnCap (Nomad & Broker to Trakm8) |
020 7220 0500 |
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Ed Frisby / Christopher Raggett - corporate finance Joanna Weaving - corporate broking
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About Trakm8
Trakm8, the M2M telematics company using Big Data analytics to improve driver behaviour is a leading technology designer, developer and manufacturer of telematics products and solutions.
The Group, based in Shaftesbury, Dorset, distributes its hardware and software through a network of distributors worldwide. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market. Trakm8's IP owned products and services allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles down to five metres.
Recently Trakm8 have developed the T10 product range, which includes a self-installed telematics device. The Group's services also include driver behaviour management solutions that can reduce fuel consumption by 10% or more, reduce risk of accidents, logistics routing & scheduling packages, and tachograph data reporting. The Group's customers include Direct Line Group, Eon, St Gobain, the AA, Fujitsu and Kubota.
Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.