Contract win

RNS Number : 0136G

Trakm8 Holdings PLC

24 May 2017

 

24 May 2017

TRAKM8 HOLDINGS PLC

("Trakm8" or the "Group")

Roadside Assistance Technology Company Awards Trakm8 Telematics Contract

Trakm8, the AIM-listed telematics and data provider, is pleased to announce it has been awarded an initial contract by a roadside assistance technology company, to supply devices and data.

The initial contract includes a number of devices for the initial launch, along with integration engineering fees.

The contract is for launch in July 2017 to the customer's roadside assistance partners in Europe.  The initial focus will be in the UK and Holland. It is expected that the solution will be extended to other European markets in due course.

Trakm8 will provide its latest generation Connect 300 plug in telematics device. Data supplied will be from the Trakm8connectedcare solution to monitor the vehicle health and usage based on Trakm8's extensive automotive diagnostic knowledge.

John Watkins, Executive Chairman of Trakm8 commented: 

"We are delighted to win another customer for Trakm8's automotive telematics solutions. We have been providing telematics on extended trial with our Trakm8connectedcare product for about 12 months. It is also encouraging that this solution is expected to be offered in multiple countries.

"This contract is expected to be a significant one and provides additional visibility for our expectations for this financial year and beyond."

-ends-

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.

 

END

 

 

CNTUOSSRBSAVUAR