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On 22 November 2022, t42 IoT Tracking Solutions plc signed an agreement with Overhaul Group Inc. for the sale of t42's Tetis tracking and monitoring units and their integration into Overhaul's supply chain solutions. The agreement is for an initial two-year term, establishing a framework contract for Overhaul to order Tetis units and for t42 to provide software services.
| Date | 22 Nov 2022 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 1181H |
22 November 2022
t42 IoT Tracking Solutions plc
("t42" or the "Company")
T42 signs contract with Overhaul
t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the provider of global shipping containers tracking solutions, is pleased to announce that it has signed an agreement with Overhaul Group Inc. ("Overhaul") for the sale of t42's Tetis tracking and monitoring units to Overhaul and integration into its supply chain solutions.
The agreement is for an initial two-year term and comprises a framework contract for Overhaul to order Tetis units and for t42 to provide software services.
Overhaul is a US-based company that provides a unified view of in-transit logistics to detect and correct non-compliance within supply chains. Using the Tetis units as part of its solutions, the company is able to provide its customers with a much higher level of visibility and control over their cargo performance.
Avi Hartmann, CEO of t42, commented: "We are delighted to see that our products are becoming increasingly recognized, in this case, the Tetis, which provides a complete tracking and monitoring solution for container transportation. We believe the increasing need for supply chain visibility in general, and in-land visibility in particular, will support our growth in the near future. We see this agreement with Overhaul as an important step in that direction."
Contacts:
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t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman Avi Hartmann, CEO
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07785 727595 +972 5477 35663 |
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Strand Hanson Limited (Nominated Adviser and Financial Adviser) James Harris/ James Dance/ Robert Collins
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020 7409 3494 |
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Peterhouse Capital Limited (Joint Broker) Lucy Williams/ Charles Goodfellow/ Eran Zucker
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020 7469 0930 |
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Yellow Jersey PR (Financial PR) Tom Randell/ Henry Wilkinson/ Annabelle Wills |
020 3004 9512 |
Notes to Editors
t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring, and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors, and 50 logistics and support partners.
t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis, and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities, homeland security, and police for end-to-end global container tracking and digital transformation of shipments.
For more information on the Company, please visit: www.t42.co.uk/.