Servision PLC Regulatory News (SEV)

3 Jul 2007 07:01

SerVision plc03 July 2007 SerVision Plc ("SerVision" or "the Company") SerVision expands into South African market through exclusive agreement with Graphic Image Technologies (Pty) Ltd ("GIT") SerVision Plc, the AIM listed leading developer and manufacturer of digitalsecurity systems, is pleased to announce that it has further expanded itsgeographical reach through an exclusive three year agreement with GIT of SouthAfrica, worth a minimum US$600k in its first year. GIT is now the exclusive distributor of SerVision products in the South Africanmarket, whereby SerVision will provide its entire range of SVG, IVG and HVGequipment as well as the necessary technical training and operationalassistance, concentrating on its three core markets - commercial, transportationand residential. Under the terms of the deal, SerVision has received an initial US$150k orderfrom GIT, with a commitment to a minimum of $600k in the first full year,increasing by 25% per annum over the remaining two years of the agreement. Gidon Tahan, SerVision's Chairman and CEO, commented: "At the time of our fullyear results we stated that we would look to increase our geographical reacheven further. This agreement is evidence that our sales are continuing themomentum of last year and we are delighted to be entering the South Africanmarket with GIT." - Ends - Further enquiries: SerVision plc +972 2535 0015Eitan Yanuv, Finance Director HB Corporate 020 7510 8598Jim McGeever Threadneedle Communications 020 7936 9605Graham Herring/Josh Royston About SerVision SerVision Ltd. is a leading producer of remote video surveillance products using dependable, digital wireless video technologies. Its world class R&D team, with their combined experience of over 50 years in the video compression and wireless communications industry, has developed the world's first completely integrated wireless video monitoring platforms. SerVision's products are advanced and fully integrated video monitoring systems that use highly sophisticated video processing and encryption with state-of-the-art cellular/wireless communication. SerVision's products are compact DVR / video gateways that combine security functionality with the highest level of video streaming performance in a compact stand-alone unit. They bring to the market a ready and easy-to-use remote video monitoring platform. With a worldwide business development team, SerVision is targeting the SOHO, medium and large sized enterprises, remote site and institutional monitoring markets. Established in 2000, SerVision has R&D facilities in Israel, and offices in USA, Europe as well as in Mexico. It partners with distributors and integrators around the world. This information is provided by RNS The company news service from the London Stock Exchange