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SmartTrans secures major China deal |
28.08.2015 12:13 |
SmartTrans is entering the Australian mobile and online payments platform and logistics software provider SmartTrans Holdings Limited has expanded the company’s logistics division into SmartTrans has been chosen by Yanfeng Visteon Automotive to supply a module of the company’s best-of-breed logistics software. The proven and established system, which uses mobile internet connectivity to provide information and evaluation of driver performance, safety, route optimisation, fuel efficiency and which can also reduce greenhouse gas emissions, was selected for implementation with an initial 450 vehicles commencing in Shanghai this month. Under the terms of this agreement, SmartTrans will earn revenue from an upfront payment and also via a monthly per unit licensing fee.
This partnership will also provide SmartTrans with exposure to the fast growing connected car sector, which enables internet connection in vehicles for a variety of purposes, including the potential for integration with SmartTrans existing payment platform. Worldwide revenue from the sale and supply of connected car products for the passenger vehicle segment alone is anticipated to reach approximately US$149 billion by 2020, with The Yanfeng Visteon Automotive group is a subsidiary of Shanghai Automotive Industry Corporation (SAIC), a state owned enterprise (SOE) that is Headquartered in SmartTrans managing director Bryan Carr said: “This is a fantastic milestone for SmartTrans and a huge vote of confidence in the performance of our technology as well as a great endorsement of the credibility of company itself. We have worked long and hard to establish our presence in “We have been deliberately selective and strategic as to how we expand our logistics division into “Critically, this contract provides a valuable entry point for our logistics software into a large and rapidly expanding market and delivers a new revenue opportunity in “We will now work closely with the Yanfeng Visteon team to develop and deliver this software with a view to promoting and distributing our software to others in the auto sector in Mr Carr added that the recently completed $5.5 million capital raising has given SmartTrans the financial flexibility to fast-track the growth of both its SmartPay division in
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