LONDON (Alliance News) - Telematics company Trakm8 Holdings PLC on Thursday said it has secured a deal with an unnamed US-based data company to supply its T10 BLE device.
The Bluetooth device communicates with mobile phones to relay real-time journey data.
The new client is expected to buy more than 25,000 devices in the first two years of the contract agreement. No financial details were disclosed.
"We are delighted to be working with this major customer to provide technology to the North American insurance market. Considerable engineering investment has been required to create an enhanced product with tremendous potential which can be utilised both in North America and elsewhere," said Executive Chairman John Watkins.
Shares in Trakm8 were up 8.4% on the news to 244.00 pence, one of the best performers in the AIM All-Share in early trade.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Trakm8 Hldgs (TRAK)