Online:
Visits:
Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Buddy Platform shares rise on contract with major U.S. company

Thursday, January 12, 2017 17:33
% of readers think this story is Fact. Add your two cents.

(Before It's News)

The company’s shares are up 8.6% intra-day, currently trading at A$0.063 on the ASX.

Buddy is a provider of data aggregation and management platforms for internet of things (IoT) and connected devices.

The new contract brings Buddy’s total contracted value with Thor Industries, a manufacturer of recreational vehicles, to A$2.25 million.

The project, which builds upon the existing customer relationship between Buddy and the customer, deploys Buddy-powered smart city and connected residential technologies.

This innovative solution will unlock many new user experiences for Thor Industries by leveraging Buddy’s monitoring technologies and the flexibility of the core Buddy Platform.

The new statement of work provides for A$1.8 million of contracted commitments starting immediately, and running through the end of May 2018.

Thor Industries has flagged an interest in optionally purchasing an additional component valued at nearly A$350,000 prior to December 2017.

A further ongoing platform and application services component of more than A$250,000 will apply from June 2018 if the customer wishes to continue with the provision of services by Buddy.

Importantly, devices or hardware components required by Thor Industries will be incremental to these figures.

Earlier this week, Buddy terminated the proposed transaction to acquire energy and water monitoring specialist Noveda Technologies.

The company remains committed to bringing an alternatively sourced solution to market that will meet the needs of customers in this space.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/171570/buddy-platform-shares-rise-on-contract-with-major-us-company-171570.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.