13th Jan 2015 08:16
LONDON (Alliance News) - Digital video security company SerVision PLC shares rose early Tuesday after the company said it has signed a deal with Crosstone Trading Ltd and A&A Traffic Technologies Ltd in Kazakhstan.
Under the deals, SerVision will supply its video gateway products for buses operated in Astana in Kazakhstan.
Crosstone and A&A have committed to an initial purchase order with an aggregate value of USD415,000, with USD207,500 paid to SerVision already and the balance to be paid within four weeks of the order delivery date.
"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," said SerVision Chairman and Chief Executive Officer Gidon Tahan.
"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," Tahan added.
SerVision shares were up 11.1% in early trade to 4.1675 pence, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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