Tech: Simble Solutions seals the deal on European distribution agreement
Shares in tech minnow Simble Solutions (ASX:SIS) got a boost this morning on some positive deal news.
The software-as-a-service (SaaS) and Internet of Things (IoT) business said it had signed a three-year agreement with European company Sylvania Lighting.
As part of the deal, the company’s SimbleSense platform will be embedded into projects servicing Sylvania clients across the UK, France, Germany, Spain and Italy.
It makes the commercial agreement official after the two sides signed a Letter of Intent in December, following a period of product evaluation.
Simble said a sales and marketing push will kick off in Q1 at a major trade fair for lighting and building services in Frankfurt from March 8-13.
The company’s SimbleSense platform is an “integrated hardware and real-time software solution that enables businesses to control and monetise their energy systems”.
The platform will be offered as white-label solution on Sylvania projects as a way to improve sales conversion and engage more strongly with customers.
Simble said the deal between the two sides was connected to an ongoing shift in lighting services away from a commodity product to lighting-as-a-service solutions that allowed more flexibility and customisation in controlling energy usage.
Shares in Simble ticked higher by 25 per cent this morning, but are well off their 12-month highs.
Shares in Crowd Media (ASX:CM8) rose by 9 per cent to 2.4c, after the company announced it had now received funds totalling around $426,000 from Sata Bank. Crowd’s chairman expressed relief at the result, after Sata Bank’s licence was suspended for 15 months by the Malta Financial Services Authority, during which time “all deposits and transfers were frozen”.