AA PLC Trakm8 contract extension with the AA (8699I)

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RNS Number : 8699I

AA PLC

14 December 2015

14 December 2015

AA plc

Trakm8 contract extension with the AA

Trakm8, the AIM-listed telematic car data provider to the global market, and the AA plc have announced an extension to their current relationship.

Trakm8 has been the supplier of telematic systems to the AA for their roadside assistance and recovery vehicles for over four years, bringing considerable operational and economic benefits to the business over that time.

It has now worked with the AA to develop a new business-to-business fleet management system. The new product will be offered to the AA's business-to-business fleet customers, enabling them to help manage both the cost and logistics of running their fleets. The solution is expected to be attractive to large fleet operators as well as SMEs running fleets of five or more vehicles.

The system allows individual vehicle data to be tracked, including fuel consumption, driver behaviour and routes taken.

John Watkins, Executive Chairman of Trakm8 commented:

"This is a substantial contract and an extremely interesting opportunity for Trakm8. Working with the AA on this project, we will substantially increase our understanding of remote vehicle service potential for fleets."

Kirsty Lloyd-Jukes, the AA's Strategy Director said:

"We have worked with Trakm8 on our own vehicle fleet for some time and they have demonstrated great innovation and support for our business. This initiative for our fleet customers is an important part of the investment in connected car technology that we are developing. We are looking at a number of options that will add value to our proposition for the rest of our business customers and our personal members."

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For further information please contact:

 
 The AA plc 
 
 Jill Sherratt, Head of Investor 
  Relations                          02073957301 
 James Curran, Investor Relations 
  Manager and Analyst                02073954443 
 
 Headland                            020 805 4822 
 Francesca Tuckett/ Chris Salt 
 
 Trakm8 Holdings plc                 01747 858444 
 John Watkins, Executive Chairman 
 James Hedges, Finance Director 
 MHP Communications                  020 3128 8100 
 Reg Hoare / Jade Neal 
 finnCap                             020 7220 0500 
 Ed Frisby / Christopher Raggett 
  - corporate finance 
  Joanna Weaving - corporate 
  broking 
 

About Trakm8

Trakm8, the M2M telematics company using Big Data analytics to improve driver behaviour is a leading technology designer, developer and manufacturer of telematics products and solutions.

The Group, based in Shaftesbury, Dorset, distributes its hardware and software through a network of distributors worldwide. In addition the Group provides vehicle monitoring and tracking services direct to the B2B market. Trakm8's IP owned products and services allow vehicles and drivers to be monitored, allowing organisations to manage deliveries and services, or track stolen vehicles down to five metres.

Recently Trakm8 have developed the T10 product range, which includes a self-installed telematics device. The Group's services also include driver behaviour management solutions that can reduce fuel consumption by 10% or more, reduce risk of accidents, logistics routing & scheduling packages, and tachograph data reporting. The Group's customers include Direct Line Group, Eon, the AA, St Gobain, Marmalade and Kubota.

Trakm8 has been listed on the AIM market of the London Stock Exchange since 2005.

About the AA

The AA has been providing roadside assistance since 1905 and is one of the UK's most familiar and trusted brands. It is today the UK's leading provider of roadside assistance with over 3,000 patrols attending an average of around 10,000 breakdowns of motorists' vehicles every day. Patrols successfully repair approximately 80% of breakdowns at the roadside. The AA has around 3.8m personal members and 9.6m business customers including motor manufacturers; fleet operators; leasing companies, as well as banking customers.

Apart from roadside service AA offers motor, home, travel and other insurance; financial services, driving services through the AA Driving School and British School of Motoring and business-to-business driver education through AA DriveTech. More than 50% of UK households hold at least one AA product.

Following a successful IPO the AA became a Plc in 2014 and achieved premium listing on the London Stock Exchange in 2015.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 14, 2015 02:02 ET (07:02 GMT)