Trakm8 Holdings PLC Contract Extension
April 04 2017 - 2:01AM
RNS Non-Regulatory
TIDMTRAK
Trakm8 Holdings PLC
04 April 2017
TRAKM8 HOLDINGS PLC
("Trakm8" or the "Group")
Young Marmalade Awards Trakm8 Telematics Contract Extension
Trakm8, the AIM-listed telematics and data insight provider, is
pleased to announce it has been awarded a contract extension by
Young Marmalade, the UK vehicle insurance company.
The contract extension covers the provision of T10 Micro
hardware and data services supplied to Young Marmalade for their
Young Drivers Insurance product, first announced by Trakm8 in
February 2015. The contract extension is valued at GBP1.7m.
John Watkins, Executive Chairman of Trakm8 commented:
"We have been working with Young Marmalade for two years
providing insurance telematics solutions. We are delighted to
extend this relationship as the range of services and demand
increases. This contract provides additional visibility for our
expectations for this financial year and beyond."
For further information please contact:
+44 (0) 174 785
Trakm8 Holdings plc 8444
John Watkins, Executive Chairman
James Hedges, Finance Director
+44 (0) 20 7220
finnCap (Nomad and Broker) 0500
Ed Frisby / Simon Hicks -
corporate finance
Tim Redfern / Richard Chambers
- corporate broking
+44 (0) 20 3128
MHP Communications 8100
Reg Hoare
Charlie Barker
About Trakm8
Trakm8 is a UK based Big Data company utilising telematics as
its primary enabler. Through IP owned technology, over three
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
including 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.
The Group acquired both Route Monkey and Roadsense Technologies
Ltd. Route Monkey has enhanced Trakm8's logistics solution offering
route scheduling and optimisation, including routing for electric
vehicles. Roadsense has been acquired to strengthen the Group's
presence in the SME fleet management market.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
www.trakm8.com / @Trakm8
About Marmalade
Marmalade is the leading provider of car insurance and cars for
young drivers. Founded in 2006, it helps young drivers get behind
the wheel, keeps them safe, improves their driving skills and saves
money.
As a champion of young people, Marmalade provides a range of
products that specifically meet the needs of young people - and
their parents - today. These include:
-- Learner Insurance - is tailor-made for provisional drivers,
enabling them to drive a parent's car from as little as GBP2.05 per
day while protecting No Claims Bonus.
-- New Driver Insurance - Marmalade offers low insurance
premiums from the outset as we trust our customers to be safe and
responsible drivers. They are only penalised if they repeatedly
drive dangerously, potentially saving hundreds of pounds on
premiums. This policy is based on telematics technology - black
boxes are installed into the insured car to monitor journeys and to
ensure that young person is not driving dangerously. Our black
boxes don't have curfews but do provide added security in case of
an accident or vehicle theft.
-- Fuel & Go - Marmalade is the only UK insurance company to
offer free insurance for 17 year olds through its Fuel & Go
scheme. The scheme, which uses black box technology, enables young
people to buy a new car with free insurance for the first year for
a fixed monthly price.
www.wearemarmalade.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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