Trakm8 Holdings PLC Trakm8 contract extensions with AA Plc (8668I)
December 14 2015 - 2:00AM
UK Regulatory
TIDMTRAK
RNS Number : 8668I
Trakm8 Holdings PLC
14 December 2015
TRAKM8 HOLDINGS PLC/AA plc
Trakm8 contract extensions with AA Plc
Trakm8, the AIM-listed telematics and data provider to the
global market, and the AA plc have announced an extension to their
current relationship.
Trakm8 has been the supplier of telematic systems to the AA for
their roadside assistance and recovery vehicles for over four
years, bringing considerable operational and economic benefits to
the business over that time.
It has now worked with the AA to develop a new
business-to-business fleet management system. The new product will
be offered to the AA's business-to-business customers, enabling
them to help manage both the cost and logistics of running their
fleets. The solution is expected to be attractive to large fleet
operators as well as SMEs running fleets of five or more
vehicles.
The system allows individual vehicle data to be tracked,
including fuel consumption, driver behaviour and routes taken.
John Watkins, Executive Chairman of Trakm8 commented:
"This is a substantial contract and an extremely interesting
opportunity for Trakm8. Working with the AA on this project we will
substantially increase our understanding of remote vehicle service
potential for fleets."
Kirsty Lloyd-Jukes, the AA's Strategy Director said:
"We have worked with Trakm8 on our own vehicle fleet for some
time and they have demonstrated great innovation and support for
our business. This initiative for our fleet customers is an
important part of the investment in connected car technology that
we are developing. We are looking at a number of options that will
add value to our proposition for the rest of our business customers
and our personal members."
Ends / more
For further information please contact:
Trakm8 Holdings plc 01747 858444
----------------------------------- --------------
John Watkins, Executive Chairman
----------------------------------- --------------
James Hedges, Finance Director
----------------------------------- --------------
MHP Communications 020 3128 8100
----------------------------------- --------------
Reg Hoare / Jade Neal
----------------------------------- --------------
finnCap 020 7220 0500
----------------------------------- --------------
Ed Frisby / Simon Hicks -
corporate finance
Joanna Scott - corporate broking
----------------------------------- --------------
AA plc
----------------------------------- --------------
c/o Headland 020 805 4822
----------------------------------- --------------
About Trakm8
Trakm8, the M2M telematics company using Big Data analytics to
improve driver behaviour is a leading technology designer,
developer and manufacturer of telematics products and
solutions.
The Group, based in Shaftesbury, Dorset, distributes its
hardware and software through a network of distributors worldwide.
In addition the Group provides vehicle monitoring and tracking
services direct to the B2B market. Trakm8's IP owned products and
services allow vehicles and drivers to be monitored, allowing
organisations to manage deliveries and services, or track stolen
vehicles down to five metres.
Recently Trakm8 have developed the T10 product range, which
includes a self-installed telematics device. The Group's services
also include driver behaviour management solutions that can reduce
fuel consumption by 10% or more, reduce risk of accidents,
logistics routing & scheduling packages, and tachograph data
reporting. The Group's customers include Direct Line Group, Eon,
the AA, St Gobain, Marmalade and Kubota.
Trakm8 has been listed on the AIM market of the London Stock
Exchange since 2005.
About the AA
The AA has been providing roadside assistance since 1905 and is
one of the UK's most familiar and trusted brands. It is today the
UK's leading provider of roadside assistance with over 3,000
patrols attending an average of around 10,000 breakdowns of
motorists' vehicles every day. Patrols successfully repair
approximately 80% of breakdowns at the roadside. The AA has around
3.8m personal members and 9.6m business customers including motor
manufacturers; fleet operators; leasing companies, as well as
banking customers.
Apart from roadside service AA offers motor, home, travel and
other insurance; financial services, driving services through the
AA Driving School and British School of Motoring and
business-to-business driver education through AA DriveTech. More
than 50% of UK households hold at least one AA product.
Following a successful IPO the AA became a Plc in 2014 and
achieved premium listing on the London Stock Exchange in 2015.
Ends all
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGMMMZVMKGKZM
(END) Dow Jones Newswires
December 14, 2015 02:00 ET (07:00 GMT)
Trakm8 (LSE:TRAK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Trakm8 (LSE:TRAK)
Historical Stock Chart
From Apr 2023 to Apr 2024