t42 IoT Tracking Solutions PLC - Jersey-based real-time tracking, security, and monitoring solutions provider - Signs deal with Overhaul Group Inc for the sale of its Tetis tracking and monitoring units, as well as integration into its supply chain solutions.

The agreement is for an initial two-year term. It provides a framework contract for Overhaul, a US-based logistics provider, to order Tetis units.

Chief Executive Officer Avi Hartmann says: ‘We are delighted to see that our products are becoming increasingly recognized, in this case, the Tetis, which provides a complete tracking and monitoring solution for container transportation. We believe the increasing need for supply chain visibility in general, and in-land visibility in particular, will support our growth in the near future. We see this agreement with Overhaul as an important step in that direction.’

Current stock price: 7.88 pence, up 8.7% on Tuesday

12-month change: down 51%

Copyright 2022 Alliance News Limited. All Rights Reserved.