t42 signs agreement with Olimp Bulgaria

RNS Number : 6806L

T42 IOT Tracking Solutions PLC

17 May 2022

 

17 May 2022

t42 IoT Tracking Solutions plc

("t42" or the "Company")

Signs Agreement to Deliver IoT Shipping Container Tracking Solutions to Olimp Bulgaria

t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the real-time tracking, security and monitoring solutions provider for the global container and freight market, is pleased to announce a commercial order for its tracking solutions and services from Olimp Bulgaria Ltd. ("Olimp"), a world leader and exporter of security seals.

Following the completion of an extensive pilot programme that ran for over a year and a half and included working with Bulgaria's national customs authority, t42 has delivered the first order for c.250 Lokies Smart Tracking Lock units to be used by Bulgaria's customs authorities.

The pilot programme followed a competitive tender and included a comparison of multiple competitor units each of which was activated and integrated with Bulgarian customs systems and operating procedures.

Avi Hartmann, CEO of t42, commented: "This order shows how t42 is expanding in new geographies, sectors and markets. It demonstrates that our products compare favourably when tested against competitors. It has also shown our ability to work effectively with customs authorities and deliver benefits to our customers very quickly after adoption. We are proud to be able to give both our customers and customs authorities increased confidence they are in full compliance with regulatory obligations.

"We are hopeful this order will be followed by more in a long-term, mutually beneficial relationship with Olimp Bulgaria and we look forward to updating the market on this in due course."

Contacts:

t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman Avi Hartmann, CEO	07785 727595 [phone]
Strand Hanson Limited  ( Nominated and Financial Adviser) James Harris / James Dance / Robert Collins	[phone]
Peterhouse Capital Limited (Broker) Lucy Williams/Charles Goodfellow/Eran Zucker	020 7469 0930
Yellow Jersey PR (Financial PR) Tom Randell/Henry Wilkinson/Annabelle Wills	020 3004 9512 [e-mail]

Notes to Editors

t42 IoT Tracking Solutions plc  (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors and 50 logistics and support partners.

t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities and homeland security and police for end-to-end global container tracking and digital transformation of shipments.

For more information on the Company, please visit: www.t42.co.uk/. 

Information required pursuant to rule 26 of the AIM Rules for Companies can be found at www.starcomsystems.com.

 

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