Elsight continues revenue expansion with new project win

Elsight (ASX:ELS) has been selected as the winning supplier for a new fleet management project in South Africa, continuing its revenue expansion worldwide.

The move follows the Israeli encrypted communications company’s recent listing on the ASX, which gives the opportunity to further accelerate worldwide sales expansion.

As per the new deal, Elsight’s system will be installed in trucks owned by a multinational company for whom security is a major challenge within its fleet management and logistics operations.

The Rider system is part of Elsight’s professional mobile surveillance solution for secured transportation and logistics of precious goods.

Elsight’s system can be easily installed on any vehicle and can transmit real-time video from up to four cameras, directly to a company’s headquarters, over 3G or 4G networks.

The system is designed to prevent and deter armed robbery attempts that currently costs lives and millions of dollars’ worth of goods on a daily basis.

The implementation of this platform has a proven positive impact – reducing such violent attacks by up to 80%, saving lives, as well as tens of millions of dollars in lost goods.

Customers who previously faced up to over 100 violent attacks daily have seen a dramatic reduction in these attacks and the remaining attacks were successfully intercepted and prevented.

The operations of Elsight Israel were profitable in 2016 with revenues derived from hardware and software sales and ongoing licence and maintenance fees.

Story by ProactiveInvestors