TIDMTRAC

RNS Number : 1181H

T42 IOT Tracking Solutions PLC

22 November 2022

22 November 2022

t42 IoT Tracking Solutions plc

("t42" or the "Company")

T42 signs contract with Overhaul

t42 IoT Tracking Solutions plc (AIM: TRAC) (" t42 " or the " Company "), the provider of global shipping containers tracking solutions, is pleased to announce that it has signed an agreement with Overhaul Group Inc. ("Overhaul") for the sale of t42's Tetis tracking and monitoring units to Overhaul and integration into its supply chain solutions.

The agreement is for an initial two-year term and comprises a framework contract for Overhaul to order Tetis units and for t42 to provide software services.

Overhaul is a US-based company that provides a unified view of in-transit logistics to detect and correct non-compliance within supply chains. Using the Tetis units as part of its solutions, the company is able to provide its customers with a much higher level of visibility and control over their cargo performance.

Avi Hartmann, CEO of t42, commented : "We are delighted to see that our products are becoming increasingly recognized, in this case, the Tetis, which provides a complete tracking and monitoring solution for container transportation. We believe the increasing need for supply chain visibility in general, and in-land visibility in particular, will support our growth in the near future. We see this agreement with Overhaul as an important step in that direction."

Contacts:

 
 t42 IoT Tracking Solutions PLC 
  Michael Rosenberg, Chairman                         07785 727595 
  Avi Hartmann, CEO                                   +972 5477 35663 
 Strand Hanson Limited (Nominated Adviser and 
  Financial Adviser) 
  James Harris/ James Dance/ Robert Collins         020 7409 3494 
 Peterhouse Capital Limited (Joint Broker) 
  Lucy Williams/ Charles Goodfellow/ Eran Zucker    020 7469 0930 
 Yellow Jersey PR (Financial PR)                    020 3004 9512 
  Tom Randell/ Henry Wilkinson/ Annabelle Wills      t42@yellowjerseypr.com

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, 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/ .

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November 22, 2022 02:00 ET (07:00 GMT)

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