Trakm8 contract extensions with AA Plc

RNS Number : 8668I

Trakm8 Holdings PLC

14 December 2015

 

TRAKM8 HOLDINGS PLC/AA plc

Trakm8 contract extensions with AA Plc

Trakm8, the AIM-listed telematics and data provider to the global market, and the AA plc have announced an extension to their current relationship.

Trakm8 has been the supplier of telematic systems to the AA for their roadside assistance and recovery vehicles for over four years, bringing considerable operational and economic benefits to the business over that time.

It has now worked with the AA to develop a new business-to-business fleet management system.  The new product will be offered to the AA's business-to-business customers, enabling them to help manage both the cost and logistics of running their fleets.  The solution is expected to be attractive to large fleet operators as well as SMEs running fleets of five or more vehicles.

The system allows individual vehicle data to be tracked, including fuel consumption, driver behaviour and routes taken.

John Watkins, Executive Chairman of Trakm8 commented:

"This is a substantial contract and an extremely interesting opportunity for Trakm8.  Working with the AA on this project we will substantially increase our understanding of remote vehicle service potential for fleets."

Kirsty Lloyd-Jukes, the AA's Strategy Director said:

"We have worked with Trakm8 on our own vehicle fleet for some time and they have demonstrated great innovation and support for our business.  This initiative for our fleet customers is an important part of the investment in connected car technology that we are developing.  We are looking at a number of options that will add value to our proposition for the rest of our business customers and our personal members."

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For further information please contact:

Trakm8 Holdings plc	01747 858444
John Watkins, Executive Chairman
James Hedges, Finance Director
MHP Communications	020 3128 8100
Reg Hoare / Jade Neal
finnCap	020 7220 0500
Ed Frisby / Simon Hicks - corporate finance Joanna Scott - corporate broking
AA plc
c/o Headland	020 805 4822

About Trakm8

Trakm8, the M2M telematics company using Big Data analytics to improve driver behaviour is a leading technology designer, developer and manufacturer of telematics products and solutions.

The Group, based in Shaftesbury, Dorset, distributes its hardware and software through a network of distributors worldwide. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market.  Trakm8's IP owned products and services allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles down to five metres.

Recently Trakm8 have developed the T10 product range, which includes a self-installed telematics device. The Group's services also include driver behaviour management solutions that can reduce fuel consumption by 10% or more, reduce risk of accidents, logistics routing & scheduling packages, and tachograph data reporting. The Group's customers include Direct Line Group, Eon, the AA, St Gobain, Marmalade and Kubota.

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

About the AA

The AA has been providing roadside assistance since 1905 and is one of the UK's most familiar and trusted brands.  It is today the UK's leading provider of roadside assistance with over 3,000 patrols attending an average of around 10,000 breakdowns of motorists' vehicles every day.  Patrols successfully repair approximately 80% of breakdowns at the roadside.  The AA has around 3.8m personal members and 9.6m business customers including motor manufacturers; fleet operators; leasing companies, as well as banking customers. 

Apart from roadside service AA offers motor, home, travel and other insurance; financial services, driving services through the AA Driving School and British School of Motoring and business-to-business driver education through AA DriveTech.  More than 50% of UK households hold at least one AA product.

Following a successful IPO the AA became a Plc in 2014 and achieved premium listing on the London Stock Exchange in 2015.

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