Trakm8 Holdings PLC Significant hardware order with UK insurance comp (4353X)

TIDMTRAK

RNS Number : 4353X

Trakm8 Holdings PLC

13 January 2014

 
13 January 2014

TRAKM8 HOLDINGS PLC

('Trakm8' or 'the Group')

Significant hardware order with a UK insurance company

Trakm8, the AIM-listed designer, developer and manufacturer of licensed GPRS based hardware and software for the vehicle placement and security market, is pleased to announce the award of a significant hardware order with a UK insurance company.

Trakm8 has been awarded a GBP1.2m hardware order for telematic units with the bulk of the revenues expected in our next financial year commencing 1 April 2014. This hardware order is expected to be followed by a service support contract providing additional and long-term recurring revenues for the Group.

Trakm8 will be supplying hardware based on our next generation components and the first of a family of new products called T10. The T10 Micro is a full function telematics tracking device with CANbus communications. This self-installed device is fitted to the vehicle diagnostic socket and is probably the smallest such unit available today. As a result over 92% of vehicles could be fitted during the trial process. Integration work has been undertaken to meet the insurance company's specific requirements.

John Watkins, Executive Chairman of Trakm8 commented:

"This significant order is validation of our investment in a larger engineering and sales resource and is the largest order ever received by the Group. We will be manufacturing the devices in our newly acquired Box Telematics facility, reflecting the benefits of the resources that this business adds to the Group as a whole."

-ends-

For further information please contact:

 
 Trakm8 plc                              01747 858444 
 John Watkins, Executive Chairman 
 James Hedges, Finance Director 
 MHP Communications                      020 3128 8100 
 Reg Hoare / Vicky Watkins 
 
 finnCap                                 020 7220 0500 
 Ed Frisby / Christopher Raggett - corporate finance 
  Simon Starr - corporate broking

About Trakm8

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

Services also include driver behavior management solutions that can reduce fuel consumption by 10% or more, logistics routing & scheduling packages, and tachograph data reporting. Major customers include Eon, St Gobain, the AA and Fujitsu.

www.trakm8.com

This information is provided by RNS

The company news service from the London Stock Exchange

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