Trakm8 Holdings PLC Contract Win (0653D)

TIDMTRAK

RNS Number : 0653D

Trakm8 Holdings PLC

04 July 2016

 
4(th) July 2016 
 

TRAKM8 HOLDINGS PLC

("Trakm8" or the "Group")

Allianz Awards Trakm8 Telematics Contracts

Trakm8, the AIM-listed telematics and data provider to the global market place, is pleased to announce it has been awarded two initial contracts by Allianz, the global insurance company, to supply devices with uniquely developed software to Allianz's Global Telematics business.

The initial supply contract comes with a launch order of 5,000 devices to start the pipe filling for Allianz Insurance telematics in China.

Trakm8 will provide the latest generation 5 T10 Micro self-fit telematics device, which initially will be manufactured in the Group's UK manufacturing facility. It is anticipated that manufacturing in Asia will take place as the volumes increase.

Trakm8, under a separate contract, will also develop specific software to meet the requirements of Allianz.

John Watkins, Executive Chairman of Trakm8 commented:

"We are delighted to add Allianz as a customer for Trakm8's insurance telematics solutions. We have been providing telematics to insurance companies for just over two years and Allianz is the first major customer for our next generation T10 Micro product. These contracts provide additional visibility for our expectations for the current financial year and beyond."

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For further information please contact:

 
                                     [phone] 
 Trakm8 Holdings plc                  8444 
 John Watkins, Executive Chairman 
 James Hedges, Finance Director 
 
                                     [phone] 
 finnCap (Nomad and broker)           0500 
 Ed Frisby / Simon Hicks - 
  corporate finance 
 Joanna Scott - corporate broking 
 
                                     [phone] 
 MHP Communications                   8100 
 Reg Hoare 
 Jade Neal 
 

About Trakm8

Trakm8 is a UK based Big Data company utilising telematics as its primary enabler. Through IP owned technology, over two billion miles worth of data is collected annually through its fleet management solutions to create and fine tune algorithms used to score driver behaviour, monitor vehicle health and continuously improve the security and operational efficiencies of customers' vehicles.

With its headquarters in Dorset and a manufacturing facility in the West Midlands, the Group supplies a number of well-known customers in the fleet management and insurance sectors across the UK and further afield including customers such as the AA, Saint Gobain, EON, Direct Line Group and Young Marmalade.

The Group's portfolio offers complete telematics solutions, which since the acquisition of the business and assets of DCS Systems, includes dashboard cameras that enable customers to record driving incidents and mitigate the risk from "crash to cash" accidents. This is complemented through a comprehensive hardware range, which includes a self-install unit that is one of the smallest available on the global market.

Recently, the Group acquired Route Monkey, significantly enhancing the Group's logistics solution which offers both route scheduling and optimisation, including routing for electric vehicles.

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

www.trakm8.com / @Trakm8

This information is provided by RNS

The company news service from the London Stock Exchange

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July 04, 2016 02:00 ET (06:00 GMT)