New Distribution Agreements (5294K)
July 18 2011 - 02:00AM
UK Regulatory
TIDMSEV
RNS Number : 5294K
SerVision plc
18 July 2011
18 July 2011
SERVISION PLC
("SerVision" or the "Company")
New Distribution Agreements
SerVision (AIM: SEV), the AIM listed leading developer and
manufacturer of digital security systems, is pleased to provide an
update on new distribution agreements which the Company has secured
in the Republic of Mexico and the UK.
Distribution agreement in the Republic of Mexico
The Company has signed an exclusive distribution agreement with
Cashfin Sa De CV ("Cashfin") for the import and distribution of
SerVision's video gateway products in the Republic of Mexico (the
"Cashfin Agreement").
Under the terms of the Cashfin Agreement, which is for an
initial duration of 2 years, Cashfin has committed to an order
schedule comprising a total of 4,000 units. SerVision have received
a US$300,000 cash payment from Cashfin for an initial order of 500
units.
The products being supplied to Cashfin by SerVision fall across
its entire range of Video Gateway solutions, including fixed and
mobile commercial systems (SVG, UVG and MVG), home security (HVG)
and body worn camera systems (CVG and CVG-M). SerVision will
provide Cashfin with exclusive distribution rights in the Republic
of Mexico for the duration of the Cashfin Agreement.
OEM distribution agreement with Cobra UK Limited
The Company has also entered into an agreement with Cobra UK
Limited ("Cobra"), part of Cobra Automotive Technologies S.p.A,
leaders in the design, manufacture and distribution of security,
safety and telematics solutions for the automotive industry (the
"Cobra Agreement"). Under the terms of the Cobra Agreement the
Company has agreed to supply MVG and CVG-M products to Cobra, to be
white labelled and sold under the Global Live brand name. Cobra has
placed an initial purchase order which has been successfully
fulfilled.
Cobra is the European market leader for GPS stolen vehicle
tracking and location based services. The company is the sole
approved supplier of stolen vehicle tracking and recovery services
at a pan-European level to Audi, Bentley, Ferrari, Infiniti,
Lamborghini, Maserati, McLaren, Mercedes-Benz Trucks, Mitsubishi,
Nissan, Porsche, Renault and Tesla.
Cobra will market Servision products in the UK under the Global
Live brand name as a safety and security solution for commercial
vehicle operators to protect high value loads, remote sites and
high risk operations. Target areas also include public safety
protection and helping operators to meet Duty of Care obligations.
Cobra will provide bespoke integrated solutions, installation and
ongoing vehicle security monitoring services using Servision
technology.
Gidon Tahan, Chairman and CEO of SerVision, commented, "We are
pleased to have entered into a distribution agreement with Cashfin
for the exclusive distribution of our gateway products in Mexico.
This adds to our expanding list of distributors who are able to
market SerVision's video gateway products into an increasing number
of territories around the world. We are also delighted to have
entered into an agreement with Cobra. As a leader in automotive
telematics technology, we are pleased that Cobra appreciates the
unique benefits that our CVG-M and MVG products contain and have
identified them to strengthen their product base."
Andrew Smith, Managing Director of Cobra UK Limited, added, "The
agreement with Servision to distribute live mobile CCTV solutions
is a natural extension to the Cobra portfolio of products and
services. Building on our strengths in the automotive and
commercial vehicle sector, these systems enhance our commitment to
improve the safety and security of drivers and their vehicles."
For more information on Cobra products and services visit
www.cobravehiclesecurity.co.uk
-ends-
SerVision plc. +972 2535 0000
Gidon Tahan , Chairman and CEO
Allenby Capital Limited (Nominated Adviser
and Broker) +44 (0)20 3328 5656
Nick Athanas / James Reeve
Leander (Financial PR) +44 (0)7795 168 157
Christian Taylor-Wilkinson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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