Starcom eyes major container tracking deal following 'positive feedback'

Starcom has received an expanded order from a customer for up to 30,000 of its Tetis shipping container tracking units over a three-year period.

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Under a prior agreement, WIMC Solutions, an international container monitoring firm, has so far only placed orders for 1,500 container monitoring Tetis units, which was lower than had been expected.

But now that WIMC has conducted successful testing of the technology in the field and received acceptance from end customers, it has indicated that it now expects order levels for 2019 to be up to 3,400 units, which would have an aggregate value of up to $0.66m to Starcom.

This would be comprised of a slightly reduced unit price payable to Starcom, but excludes ongoing SaaS revenues from each unit installed.

Avi Hartmann, chief executive of Starcom, said: "We are pleased to see WIMC indicating satisfaction with Tetis and planning for larger potential orders. Tetis is one of our 'growth engine' targets and this positive feedback from WIMC is reassuring."

Starcom's shares were up 3.20% at 1.29p at 1015 GMT.