Trakm8 Manufacturing Agreement With Omitec

21st Jun 2010 16:23

LONDON (Dow Jones)--Trakm8 Holdings PLC (TRAK.LN), a designer and developer of GPRS based hardware and software for the vehicle placement and security market, said Monday that its wholly owned subsidiary Trakm8 Ltd has entered into a manufacturing agreement with Omitec Ltd for the production of Trakm8's new T8 vehicle telematics hardware platform. MAIN FACTS: -Under the terms of the agreement Omitec will supply the T8 hardware platform to Trakm8 Ltd and it is expected that the initial value of the contract will be up to GBP730,000. -Omitec, based in Devizes, Wiltshire is a U.K. provider of automotive diagnostic products and services. -Trakm8 is currently working in collaboration with Omitec on the Trusted Road Usage and Emissions Profiling project which is partly funded by the Technology Strategy Board. -Omitec is a subsidiary of Omitec Group Ltd. Shares closed Monday at 19.50 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; [email protected] (END) Dow Jones Newswires June 21, 2010 11:23 ET (15:23 GMT)