21st Sep 2009 11:35
For immediate release 21 September 2009
SerVision plc
('SerVision' or the 'Company')
Distribution Agreement
SerVision Plc (AIM:SEV), the AIM listed leading developer and manufacturer of digital security systems, is pleased to announce that it has further expanded its geographical reach through an exclusive distribution agreement with WiSOL Singapore Pte Ltd ("WiSOL"), (the "Agreement").
Under the terms of the Agreement, WiSOL has exclusive rights to distribute SerVision's video gateway products in Thailand, Indonesia, Malaysia and Singapore. The Agreement is worth up to USD $800,000 to SerVision and the first purchase order, totalling $198,250, has been received by the Company. The Agreement is for an initial term of one year, which may progress into a further one year contract at the agreement of both SerVision and WiSOL.
In addition, the Company has won the tender to supply 465 MVG 400 units to the Columbian Police force in Bogota. The contract, which the Company expects to be signed in the next two weeks, is worth USD $385,000 to SerVision. A further announcement will be made in due course in relation to the contract with the Colombian National Police Force.
Gidon Tahan, Chairman and CEO of SerVision, commented:
"The additions of Thailand, Indonesia, Malaysia and Singapore are major territories to add to the geographies in which SerVision's products are sold. We are delighted that WiSOL and the Columbian National Police Force have seen the benefits which our technologies can bring and we hope this will be the start of two profitable relationships. "
- Ends -
For more information see www.servision.net or contact:
|
SerVision plc Eitan Yanuv, Finance Director |
+972 2535 0015 |
|
Allenby Capital Limited Nick Athanas/James Reeve |
+44 (0)207 510 8600 |
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