Simble Solutions signs marketing and reseller deal with Harvey Norman; shares soar
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Simble Solutions (ASX:SIS) shares took off after a market and reselling deal with Harvey Norman, Australia’s largest furniture retailer,
Harvey Norman’s Commercial Division (HCND) has agreed to market and resell Simble’s SimbleHome App and associated third party energy IoT devices.
These will be sold into commercial and residential development projects in NSW and the ACT.
The SimbleHome app helps users manage and monitor their energy usage – to the point of switching retailers if there was a better deal and remotely automating energy savings opportunities.
The deal is for a three-year term initially with an option for another two years thereafter.
It also provides for Simble to set up a demonstration facility at HNCD’s showroom at Taren Point in Sydney and provide training support to Harvey Norman staff.
Simble’s founder Fadi Geha lauded the deal and said he expected big things to come.
“Through this partnership, we expect a significant increase in our pipeline of residential project customers and we look forward to building on that partnership into the future,” he said.
Harvey Norman welcomed the deal too.
“We see increasing demand from customers for smart energy solutions and this partnership with Simble will allow us to enhance our reputation for supplying and supporting our clients,” said HNCD principal Alan Stephenson.
Simble also announced it was working on a direct to consumer offer with a buy now pay later payment plan. It intends to launch this before the end this month’s end.
Simble shares surged 45 per cent this morning consequently making it one of the ASX’s biggest winners.