LONDON--Trakm8 Holdings PLC (TRAK.LN), a telematics and data provider, said Tuesday that it secured an initial four year contract from utility company ScottishPower to supply fleet tracking and driver behavior solutions for 1,608 vehicles.

Under the contract, Trakm8 will provide hardware and data services and risk and vehicle service data analysis tools. The installation of hardware in vehicles will take place in the first half of the current year.

"This contract provides additional visibility for our expectations for the current financial year," Trakm8 Chairman John Watkins said.

ScottishPower is part of the Iberdrola S.A. (IBE.MC).

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

May 03, 2016 02:53 ET (06:53 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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