Starcom seals collaboration deal with a 'major European industrial group'
StockMarketWire.com - Starcom reached a collaboration agreement with a major European industrial group.
This group has been seeking an appropriate Track and Trace technology for its new monitoring solution for the logistics and transportation industry. Its requirement was for a single solution for tracking land, maritime and air freight, as well as for other logistics operations.
Following extensive research and weeks of technological and business discussions between the two companies, Starcom's technology, specifically its Kylos Air product, was selected as the most suitable device to meet the customer's rigorous requirements.
In line with the agreement, the two companies will collaborate over a number of years in the supply by Starcom of an Internet of Things (IoT) platform, with Kylos Air at its core.
An initial order of a thousand Kylos Air units for delivery in 2017 has been received. It is not possible at this stage to indicate the likely level of future orders but the arrangement is for an initial three years of collaboration and further sales can be expected provided Starcom meets the relevant specifications.
CEO Avi Hartmann said: "The fact that this major European group has selected Starcom as their global logistics, transport and supply chain Track and Trace partner is of enormous importance to us and clearly demonstrates that our technology is one of the best solutions in the world."
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