Contract Extension

RNS Number : 2302G

Trakm8 Holdings PLC

29 March 2022

 

29 March 2022

Trakm8 Holdings plc

("Trakm8", the "Group" or the "Company")

Contract Extension

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight provider is pleased to announce that its contract with Drvn (previously Intelematics Europe) has been extended for a further three years.

In addition, the contract has been extended for Trakm8 to provided further services and support.

Drvn is a joint venture between several roadside assistance companies in Europe and provides connected car technology that is underpinned with devices and data from Trakm8.

John Watkins, Executive Chairman, commented: "The contract with Drvn has been in place for four years and it is pleasing to extend the scope and duration of the contract. We hope that now lockdowns are behind us that take up of connect car policies with the various European clubs will increase."

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For further information:

Trakm8 Holdings plc
John Watkins, Executive Chairman	Tel: [phone]
Jon Edwards, CFO	www.trakm8.com
Arden Partners plc (Nominated Adviser & Broker)	Tel: [phone]
Paul Shackleton, Corporate Finance	www.arden-partners.com

Simon Johnson, Corporate Broking

About Trakm8

Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. 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' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.

The Group's product portfolio includes the latest data analytics and reporting portal (Trakm8 Insight), integrated telematics/cameras/optimisation, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 255,000 connections.

Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, GSF, Direct Line Group, Ticker and Ingenie.

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

www.trakm8.com / @Trakm8

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