LONDON (ShareCast) - (ShareCast News) - Wireless remote tracking and monitoring solutions provider Starcom announced that it has reached a collaboration agreement with a "major" European industrial group on Friday.
The AIM-traded company said the unnamed group had been seeking an appropriate track and trace technology for its new monitoring solution for the logistics and transportation industry.

Its requirement was for a single solution for tracking land, maritime and air freight, as well as for other logistics operations.

Following "extensive" research and "weeks" of technological and business discussions between the two companies, Starcom said its technology - specifically its Kylos Air product - was selected as the "most suitable device" to meet the customer's rigorous requirements.

In line with the agreement, the two companies would collaborate over a number of years in the supply by Starcom of an Internet of Things (IoT) platform, with Kylos Air at its core, the board reported.

An initial order of a thousand Kylos Air units for delivery in 2017 had been received.

It was not possible at this stage to indicate the likely level of future orders, Starcom cautioned, but it added that the arrangement was for an initial three years of collaboration, and further sales could be expected provided Starcom met the relevant specifications.

"The fact that this major European group has selected Starcom as their global logistics, transport and supply chain track and trace partner is of enormous importance to us and clearly demonstrates that our technology is one of the best solutions in the world," said Starcom CEO Avi Hartmann.

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