Announcement
LightwaveRF PLC : Expanded UK Distribution Agreement
RNS Number : 2946Q
LightwaveRF PLC
11 September 2017
11 September 2017
LightwaveRF plc
(AIM: LWRF)
Expanded UK distribution agreement
LightwaveRF plc ("LightwaveRF" or the "Company"), the leading smart home solutions provider, announces an expanded UK distribution agreement with Deta Electrical Co Limited ("Deta"), a leading manufacturer and distributor of wiring and electrical accessories. The agreement will target the wholesale and electrical contractor markets in the UK.
Deta has placed an initial £350,000 order with the Company and it has committed to placing a minimum of £2,000,000 worth of orders during the first year of the agreement. Deta will offer a full range of smart home products to its customers, branded Deta Connect and Lightwave.
Commenting, Andrew Pearson, CEO of LightwaveRF, said: "We have been working with Deta for two years, focusing on the new build sector and we are looking forward to expanding the relationship. Deta is an established, leading supplier to the UK electrical wholesale market and is ideally placed to launch, promote and sell this range of smart home devices, based on Lightwave's technology. Deta's sales team will allow us to significantly scale up our coverage across the electrical wholesale sector."
Gerry Barnett, Managing Director of Deta, added: "We are looking forward to expanding our partnership with LightwaveRF through this new agreement. The combination of Lightwave smart home technology and our expanding range of high-quality wiring and electrical accessories will enable Deta to deliver comprehensive and modern smart home solutions across this important market sector."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information:
|
LightwaveRF plc Andrew Pearson, CEO Kevin Edwards, CFO |
+44 (0) 121 250 3625 |
|
Stockdale Securities Limited Tom Griffiths/Edward Thomas |
www.stockdalesecurities.com +44 (0) 20 7601 6100 |
|
Yellow Jersey PR Charles Goodwin/Abena Affum/Katie Bairsto |
+44 (0) 7747 788 221 |
About LightwaveRF
LightwaveRF plc ("LightwaveRF" or the "Company") pioneered smart home automation with the introduction of the market's first Internet enabled devices in 2008. Today the Company markets a complete smart home system for lighting, heating, power and security.
LightwaveRF offers a cloud platform and an extensive range of retrofitted LightwaveRF designed and manufactured sockets, dimmers, relays, thermostats, heating, energy, sensing, monitoring and control devices. These devices are operated by conventional manual control, handheld remote, smartphone and tablet based apps. The LightwaveRF system can also be operated using Google Assistant and Amazon Alexa voice control, is Apple HomeKit compatible and provides users with dashboards to manage their smart home.
We are dedicated to making everyone's lives easier and more fulfilled through world leading smart home technology.
For further information and to sign up for investor news alerts please visit:
www.lightwaverf.com/corporate/
This information is provided by RNS
The company news service from the London Stock Exchange
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