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Trakm8 Signs New Five-Year Supply Deal With CM Downton

August 25, 2014

Samuel Agini

LONDON (Alliance News) - AIM listed Trakm8 Holdings PLC Tuesday said it has signed a new supply agreement with UK logistics firm CM Downton Ltd.

In a statement, the designer, developer and manufacturer of GPRS-based hardware and software for the vehicle placement and security market said Downton will buy the UK manufactured T8 mini, alongside the Trakm8 branded SWIFT 6 web portal, and Trakm8 Secure.

The contract is for 1,450 units for an initial period of five years. However, under the terms of the contract, a larger share of the revenue will be realised over the upcoming 12 months, according to Trakm8.

"We are delighted to welcome Downton as a customer of Trakm8's. They are a well recognised feature of the UK's road network and we are delighted to have been given the opportunity to work with them to coordinate their Logistics operation," Executive Chairman John Watkins said in a statement.

"We are confident that Downton will reap the benefits of our solutions from the launch and believe this to be the start of a long standing partnership," Watkins added.

Trakm8 shares Friday closed at 74.50 pence.

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Source: Alliance News

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