Trakm8 Holdings PLC (LON:TRAK) said it has been awarded a contract to supply its telematics services to Intelematics Australia Pty Ltd.
The AIM-listed computer hardware group, which specialises in fleet management and insurance optimisation, said the contract, initially for three years, would provide Intelematics with data including automotive diagnostics and a 4G self-fit onboard diagnostic (OBD) device.
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Trakm8 added that this is the first 4G OBD device to meet the requirements of the Australian Cat M1 networks, with the demand for connections over the three years expected to reach around 40,000.
Intelematics Australia is a subsidiary of the Royal Automobile Club of Victoria and a lead partner in the Intelematics Europe joint venture with which Trakm8 has an existing contract.
In early morning trading Thursday, Trakm8 shares were up 5.1% at 101.5p.