1st Oct 2013 07:49
LONDON (Alliance News) - Digital security systems manufacturer SerVision PLC Tuesday entered a number of African countries for the first time as it signed a USD120,000 distribution deal for video gateway products with Nigeria-based CBC Surveillance Ltd.
CBC Surveillance will be SerVision's exclusive distributor of video gateway products in Benin, Burkina Faso, Cape Verde, Gambia, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Nigeria, Sierra Leone and Togo until the end of August next year.
"The agreement may be extended by a further one year subject to, inter alia, CBC Surveillance increasing their purchase commitment by at least 25% to 1,250 products," SerVision said in a statement.
The initial deal is for the supply of 1,000 products.
SerVision shares were up 12.7% at 3.10 pence early Tuesday, one of the biggest risers on AIM.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Servision PLC