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29 Jul 2011 08:00
29 July 2011
SERVISION PLC
("SerVision" or "the Company")
New Distribution Agreement with Graphic Image Technologies (Pty) Ltd
SerVision (AIM: SEV), the AIM listed leading developer and manufacturer of digital security systems, is pleased to announce a new exclusive distribution agreement with Graphic Image Technologies (Pty) Ltd ("GIT") of South Africa. GIT are a media focused company operating in the digital video, web application and multimedia environments. Their offering includes live video, alarm and remote monitoring solutions for transport and logistics, retail, industrial, manufacturing and other industries.
The Company has signed an exclusive distribution agreement with GIT for the import and distribution of SerVision's complete range of video gateway products in South Africa, Namibia, Botswana, Lesotho, Mozambique and Swaziland.
Under the terms of the agreement, which is for an initial duration of 2 years, GIT has committed to place orders for an aggregate value of USD 2.0 million with orders cumulatively valued at USD 1.0 million due prior to 20 June 2012. SerVision has received an initial purchase order with an aggregate value of USD 150,000 for the initial shipment of products.
The products being supplied to GIT by SerVision fall across its entire range of video gateway solutions, including fixed and mobile commercial systems (SVG, UVG and MVG), home security (HVG) and body worn camera systems (CVG and CVG-M).
Gidon Tahan, Chairman and CEO of SerVision, commented, "We are delighted to enter the Southern African market, through our partnership with GIT and we are confident they are the right company to distribute SerVision's market leading digital video products into this vast territory."
-ends-
SerVision plc | +972 2535 0000 |
Gidon Tahan , Chairman and CEO
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Allenby Capital Limited (Nominated Adviser and Broker) | +44 (0)20 3328 5656 |
Nick Athanas / James Reeve
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Leander (Financial PR) | +44 (0)7795 168 157 |
Christian Taylor-Wilkinson
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Notes to Editors:
SerVision has developed and patented a video compression technology, which allows high quality, real-time CCTV transmissions to be streamed seamlessly across mobile phone networks. The Company provides video solutions for many varied industries, including, cash-in-transit, public transport, police forces and private hire taxi companies.
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