12th Feb 2015 08:17
LONDON (Alliance News) - Shares in Trakm8 Holdings PLC were given a boost Thursday, after the telematics and data provider announced it had signed a partnership with Marmalade, a specialist provider of cars and insurance for young drivers.
The initial contract order is valued at GBP1 million, which Trakm8 said will be realised within the next financial year.
Marmalade was established in 2006 and has over 50,000 customers. Under the deal, Trakm8 said it will be providing its recently launched T10 hardware as well as its telematics data services.
Trakm8 shares were up 5.4% at 88.50 pence Thursday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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