StockMarketWire.com
Starcom has entered into a supply and support agreement with Pinnacle Systems, a company based in Kenya, for the supply of Helios units. The value of the contract over the three-year period (including service fees) based on the quantities specified in the contract is USD5.5m.
Pinnacle is a market leader in road safety, fleet management and vehicle security systems in the Eastern and Central Africa regions, specialising in assisting companies to reduce their fleet-related operating costs.
Pinnacle is also one of the largest suppliers of truck speed monitoring systems in Kenya, where such systems are required by law.
Under the agreement, Pinnacle has committed to purchase many thousands of Helios units over a three year period and, in addition, will be responsible for monthly recurring fees for the use of Starcom's software service.