LONDON (ShareCast) - (WebFG News) - Vehicle tracking provider Quartix Holdings was awarded a Queens Award for the outstanding results of its SafeSpeed database on Saturday.
AIM-traded company Quartix saw success in the innovation category of The Queens award, which is the UK's most prestigious business accolade and was awarded to 230 companies this year.

Andy Walters, chief executive of Quartix, said: "We are delighted and honoured to receive this prestigious award."

The SafeSpeed database is a tool used by insurers, for practices such as encouraging young drivers to exercise more caution, and by fleet operators who use the database to create driver scoring systems and avoid work-related vehicle accidents.

Quartix has been manufacturing telematics vehicle tracking technology since 2001 and over 10,000 companies use its business vehicle tracking system.

"The SafeSpeed Database records detailed vehicle speed data for more than one million road segments in the UK. Speed distributions are used to help identify risky driving behaviour based on the appropriate or safe speed for each road, rather than relying on the statutory speed limit alone. This information is made available to our customers to help them manage risk and reduce accident rates," said Walters.

As of 1651 BST, Quartix Holdings' shares were up 1.08% at 375.00p.

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