Contract Extension

RNS Number : 5412G

Trakm8 Holdings PLC

31 May 2017

 

31 May 2017

TRAKM8 HOLDINGS PLC

("Trakm8" or the "Group")

Iceland Foods Awards Trakm8 Optimisation & Telematics Contract Extension

Trakm8, the AIM-listed telematics and data provider to the global market place, is pleased to announce it has been awarded a contract extension by Iceland Foods Limited, the UK's leading frozen food retailer.

The contract extension covers the provision of Trakm8's Route Monkey Optimisation software and updates Trakm8's Roadsense telematics with Trakm8's latest "RoadHawk 600" integrated 4G video and telematics solution, with data provided via Trakm8's latest data solution "Insight". The new contract extension will run until April 2024.

Trakm8, through Route Monkey and Roadsense, has been providing solutions for over 1,500 Home delivery vehicles and optimising over 11 million deliveries per year. The next generation solutions will provide even better optimisation of these deliveries, far better insights into how the vehicles are being driven and the vehicle service requirements. The solutions will be fully integrated within the Trakm8 software and Iceland's EPOS.

John Watkins, Executive Chairman of Trakm8 commented: 

"We have been working with Iceland Foods for over four years providing optimisation and telematics solutions. Iceland is a market leader in adopting new technology and we are delighted that it is the first significant customer for our next generation integrated products and solutions.

"It is validation of the acquisitions of both Route Monkey & Roadsense and Trakm8's product strategy to integrate Optimisation, Camera and Telematics technologies.

"This is a long term contract that provides predictable revenues for the years ahead."

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For further information please contact:

Trakm8 Holdings plc	[phone]
John Watkins, Executive Chairman
James Hedges, Finance Director
finnCap (Nomad and broker)	[phone]
Ed Frisby / Simon Hicks - corporate finance
Tim Redfern / Richard Chambers - corporate broking
MHP Communications	[phone]
Reg Hoare / Charlie Barker

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, optimisation and dashboard camera systems. Through IP owned technology, the Group analyses data collected by its installed base of telematics units to fine tune the algorithms that are used to produce its telematics based solutions; these score driver behaviour, monitor vehicle health and continuously improve the security and operational efficiency of both private drivers and company fleets.

The Group's product portfolio includes cameras (including the recently launched integrated telematics camera), self-installed telematics units and technology to eliminate distracted driving due to mobile phones, and it has over 191,000 installed units reporting to its servers. 

Headquartered in Dorset with a manufacturing facility in the West Midlands, the Group supplies, through its dedicated business units Fleet, Optimisation, Insurance and Automotive, many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Direct Line Group and Young Marmalade.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

www.trakm8.com / @Trakm8

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

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