12th Sep 2014 07:43
LONDON (Alliance News) - Telematics firm Trakm8 Holdings PLC said Friday that it has inked a contract with Norway based SAGAsystem AS to distribute Trakm8's T8 tracking units and real time drive behaviour feedback product ecoN in Scandinavia.
The initial order for the hardware is worth over GBP270,000, which will be followed by an ongoing monthly service charge for each unit, which will provide a solid recurring revenue base for Trakm8, it said. The initial order is expected to be delivered by the end of 2014.
"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," said Executive Chairman John Watkins in a statement.
Shares in Trakm8 were trading up 1.6% at 75.21 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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