REG - Trakm8 Holdings PLC - Contract Award

Trakm8 HoldingsAnnouncement

20/04/2023 07:00

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RNS Number : 8264W  Trakm8 Holdings PLC  20 April 2023

 

 

20 April 2023

Trakm8 Holdings plc

("Trakm8", the "Group" or the "Company")

Contract Award

Trakm8 Holdings plc (AIM: TRAK), the global telematics and data insight
provider, is pleased to announce that the Company has been awarded a new
contract with Freedom Services Group.

Under this contract, Trakm8 will provide insurance data services and devices
to Freedom Connect, including Trakm8's advanced connectedcare data sets and
FNOL (First Notification of Loss) crash algorithm. The contract is for an
initial term of three years.

This contract is expected to generate revenues in excess of £6m over the
first three years.

John Watkins, Trakm8's Executive Chairman, commented "We have been supplying
devices and data to Freedom for some two years via a third party and more
recently directly and this contract increases the demand and secures our
position with one of the UK's fast growing and most successful insurance MGAs.
This contract helps to underpin the Board's expectations for the growth of
Trakm8's insurance business."

 

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For further information:

 Trakm8 Holdings plc
 John Watkins, Executive Chairman                                  Tel: +44 (0) 1675 434 200
 Jon Edwards, Chief Financial Officer                              www.trakm8.com (http://www.trakm8.com/)

 Allenby Capital Limited (Nominated Adviser & Broker)              Tel: +44 (0)20 3328 5656
 David Hart/ Vivek Bhardwaj, Corporate Finance                     www.allenbycapital.com

Tony Quirke/ Joscelin Pinnington, Sales and Corporate Broking

 

About Trakm8

 

Trakm8 is a UK based technology leader in fleet management, insurance
telematics, connected car, and optimisation. Through IP owned technology, the
Group uses AI data analytics collected from its installed base of telematics
units to fine tune the algorithms that are used to produce its' solutions;
these monitor driver behaviour, identify crash events and monitor vehicle
health to provide actionable insights to continuously improve the security and
operational efficiency of both company fleets and private drivers.

 

The Group's product portfolio includes the latest data analytics and reporting
portal (Trakm8 Insight), integrated telematics/cameras/optimisation,
self-installed telematics units and one of the widest ranges of installed
telematics devices. Trakm8 has over 318,000 connections.

 

Headquartered in Coleshill near Birmingham alongside its manufacturing
facility, the Group supplies to the Fleet, Optimisation, Insurance and
Automotive sectors to many well-known customers in the UK and internationally
including the AA, Sainsbury's, Saint Gobain, EON, Iceland Foods, GSF, Direct
Line Group, Ticker and Ingenie.

 

Trakm8 has been listed on the AIM market of the London Stock Exchange since
2005. Trakm8 is also recognised with the LSE Green Economy Mark.

 

www.trakm8.com (http://www.trakm8.com) / @Trakm8

 

 

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