Connexion Media Limited (ASX:CXZ) has been awarded a contract with a major USA-based automaker as the supplier for a new small business vehicle management service based on the Flex service.
The introduction of the customised Flex service is expected later this year. The USA-based automaker will offer the service throughout the USA via its dealer network, which has in excess of 4,000 locations.
The automaker will pay Connexion to customize the existing Flex service to meet their market requirements. The subscription-based service is expected to launch in the last quarter of 2015. Any revenues generated from the service will be shared between the automaker and Connexion. “This is a great result for Connexion shareholders as it potentially opens up our biggest revenue channel to date.” said Mr George Parthimos, CEO & Managing Director of Connexion.
Flex was formally launched in March in Australia on a subscription basis. Connexion has already signed up a small number of paying subscribers. Flex is a new high tech remote vehicle management system that provides the ability to manage an entire fleet of vehicles from a central control point using cellular mobile connectivity.
It provides tracking information so key performance indicators can be assessed including customised reporting. Flex is able to track a range of real time and historical data including vehicle locations, distance travelled, fuel consumption, battery life, engine performance and absolute and average speeds travelled. It is also able to monitor driver behaviour and instantly send notifications and alarms to vehicle owners and fleet managers.