LONDON (Alliance News) - Digital video security systems provider SerVision PLC on Friday said its UK subsidiary has been approved as a supplier by an unnamed global logistics company to supply its end-to-end telematics CCTV security system.
Following the approval, SerVision is working on fitting out a fleet of 101 vehicles in the UK with its equipment. The initial value of the deal, due to commence on November 9, is GBP225,000, with the initial purchase order now received.
"We have been working closely with this third party for many years now, whilst it has carried out thorough trials of our mobile security system. This new supply agreement is the culmination of this hard work and we are very pleased to be able to provide a system which we expect will be at the heart of its fleets for years to come," said Chairman and Chief Executive Gideon Tahan.
Shares in SerVision were up 8.6% to 2.9875 pence Friday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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