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t42 IoT Tracking Solutions PLC ( (GB:TRAC) ) has provided an announcement.
t42 IoT Tracking Solutions has secured a long-term agreement in Latin America valued at over $5 million, marking a significant advancement in integrating IoT technology with critical infrastructure. The agreement, part of a government-regulated project to enhance public safety and fleet operations, will initially connect 50,000 vehicles to t42’s platform in 2025, with an additional 20,000 vehicles expected to join annually through 2031. This deal underscores t42’s strategic focus on specialized projects within the automotive sector and reflects its commitment to expanding its presence in high-growth markets, reinforcing its role as a key player in large-scale IoT implementations.
More about t42 IoT Tracking Solutions PLC
t42 IoT Tracking Solutions plc, formerly known as Starcom Systems plc, specializes in real-time tracking, analysis, monitoring, and security IoT solutions primarily for the global container and freight market. The company operates in 55 countries and collaborates with over 100 distributors and 50 logistics and support partners. Its multi-sensor IoT tracking devices offer diverse detection capabilities, cloud-based analytics, and real-time data transmission, catering to a wide range of clients including ports, cargo owners, shipping companies, and customs authorities.
YTD Price Performance: 27.27%
Average Trading Volume: 64,234
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £1.93M
See more insights into TRAC stock on TipRanks’ Stock Analysis page.
