SerVision plc New Agreement in Kazakhstan (9655B)

TIDMSEV

RNS Number : 9655B

SerVision plc

13 January 2015

13 January 2015

SerVision plc

("SerVision" or the "Company")

New Agreement in Kazakhstan

SerVision (AIM: SEV), the AIM quoted developer and manufacturer of digital video security systems, is pleased to announce that SerVision Limited, the Company's wholly owned subsidiary, has entered into purchase agreements with Crosstone Trading Limited ("Crosstone") and A&A Traffic Technologies Limited ("A&A") in Kazakhstan for the supply of SerVision's video gateway products for buses in Astana, Kazakhstan (the "Agreements").

Crosstone and A&A, operating in partnership with and under the same umbrella as SMEU-Astana, will be delivering SerVision's fully integrated mobile video system for this project. These companies have extensive experience in providing surveillance solutions to the transportation sector in Kazakhstan.

Under the terms of the Agreements, Crosstone and A&A have committed to an initial purchase order with an aggregate value of US$415,000 for which US$207,500 in cash has been paid to SerVision and the balance is expected to be paid to SerVision within 4 weeks from the order delivery date.

The Agreements are for the supply of 360 MVG400 units with the end-user of the units being bus operator Astana LRT LLP. The Company will also be supplying the SVControlCenter, SerVision's enterprise-level video monitoring software platform, as well as the SVProxy server solution, a proprietary server designed to overcome a range of cellular network related challenges.

Gidon Tahan, Chairman and CEO of SerVision, commented, "We are pleased to enter into these agreements to supply SerVision's video gateway products in Kazakhstan, another new geography for SerVision, and to further deploy our mobile video streaming technology for the purpose of providing security on buses in Astana, Kazakhstan. We are currently in negotiations with the parties for a further purchase order and are confident that our relationship with Crosstone, A&A and SMEU will develop further over the coming years."

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SerVision plc                                     [phone] 
Gidon Tahan, Chairman and CEO 
Allenby Capital Limited (Nominated Adviser 
 and Broker)                                 [phone] 
Nick Athanas / James Reeve 
Leander (Financial PR) 
Christian Taylor-Wilkinson                   [phone] 
 

Notes to Editors

SerVision is a pioneer in the field of security communications technology and a leading developer and manufacturer of fully integrated video recording and transmission systems for homeland security and transportation applications. The Company's core technology is proprietary video compression which is optimised for streaming real-time video over any type of cellular or narrowband network.

This information is provided by RNS

The company news service from the London Stock Exchange

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