Trakm8 has been awarded a £1.2million hardware order for telematic units with a UK insurance company.
The bulk of the revenues is expected in the next financial year, commencing April 1, 2014.
The 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 its 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.
More than 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 said: “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.”
Login to comment
Comments
No comments have been made yet.