Connexion Media Limited (ASX:CXZ) (‘Connexion’) advises that it has secured a distribution agreement with WEX Australia, a leading fuel card provider, to supply its new integrated small business vehicle management service, Flex to fuel card holders in Australia.
Under the three-year contract, during the initial pilot period WEX will actively promote and sell the product to over 10,000 vehicles by mid-2016 through its extensive sales channels. Pending the success of the initial pilot, a national roll out of the programme may commence to WEX fuel card holders.
Connexion will supply, install and support Flex users that subscribe to the software technology through the fuel card provider and the product will remain the retained property of Connexion. WEX will pay Connexion a monthly subscription fee per vehicle for the term of the agreement for all Flex users that utilise the fuel card provider branded technology.
Flex is a highly sophisticated after-market smart car solution that allows users to manage an entire fleet of vehicles from a mobile phone or computer and deliver cost efficiencies through reduced maintenance costs. It can track vehicle location, speed, fuel consumption, engine performance, driver behaviour and other key performance metrics in real-time.
“We are very excited to partner with WEX Australia, a major Australian fuel card provider to pilot the distribution of our Flex technology for fleet vehicle management,” said George Parthimos, CEO of Connexion Media. “This agreement provides outstanding validation of the commercial potential of Flex.
The outlook for the Company is very promising with advanced discussions currently underway with both local and international groups for further material distribution agreements.”
Flex was launched in March 2015 in Australia on a subscription basis. The Company has already signed up a number of paying subscribers, with further contracts in the pipeline. Connexion is positioned to become a market leader in the software apps and services sector for web connected cars.