Announcement
Trakm8 Holdings PLC : Contract Extension Award
RNS Number : 4266C
Trakm8 Holdings PLC
01 October 2018
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1 October 2018 |
Trakm8 Holdings plc
('Trakm8' or the 'Group')
Contract Extension Award
Trakm8 Holdings plc (AIM:TRAK), a leading telematics and data supplier to global markets, is pleased to announce that it has been awarded an extension to its contract with an existing customer, a major UK vehicle leasing company, to supply it with the Group's telematics-based services.
The three-year contract is initially for 2,000 vehicles, which will be fulfilled during the current financial year ending 31 March 2019, and it is expected that the requirements will be between 10,000 and 15,000 vehicles over the lifetime of the contract.
John Watkins, Executive Chairman of Trakm8, commented: "Trakm8 has been working with this customer for some years and I am pleased to announce this extended agreement which demonstrates our ability to grow with our clients and adds to the Group's revenue visibility."
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For further information:
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Trakm8 Holdings plc |
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John Watkins, Executive Chairman |
Tel: +44 (0) 167 543 4200 |
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Jon Furber, Finance Director |
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Arden Partners plc (Nominated Adviser & Broker) |
Tel: +44 (0) 20 7614 5900 |
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Paul Shackleton / Alex Penney |
Media enquiries:
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Buchanan |
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Chris Lane / Tilly Abraham |
Tel: +44 (0) 20 7466 5000 |
About Trakm8
Trakm8 is a UK based technology leader in fleet management, insurance telematics, connected car, and optimisation. 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' solutions; these monitor driver behaviour, identify crash events and monitor vehicle health to provide actionable insights to continuously improve the security and operational efficiency of both company fleets and private drivers.
The Group's product portfolio includes the latest data and reporting portal (Trakm8 Insight), integrated telematics/cameras, self-installed telematics units and one of the widest ranges of installed telematics devices. Trakm8 has over 250,000 connections.
Headquartered in Coleshill near Birmingham alongside its manufacturing facility, the Group supplies to the Fleet, Optimisation, Insurance and Automotive sectors to many well-known customers in the UK and internationally including the AA, Saint Gobain, EON, Iceland Foods, 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
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