T42 IOT TRACKING SOLUTIONS PLC

M&A Activity • Nov 22, 2022

National Storage Mechanism | Additional information

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 Avi Hartmann, CEO	07785 727595 +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) Tom Randell/ Henry Wilkinson/ Annabelle Wills	020 3004 9512 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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