MiX Telematics signs a 5-year contract with a utility provider
MiX Telematics (NYSE: MIXT) announced a new five-year contract with Horizon Power in Western Australia.
Sentiment and the balance of points
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Rhea-AI Summary
MiX Telematics (NYSE: MIXT) announced a new five-year contract with Horizon Power in Western Australia. This partnership aims to enhance driver behavior and fleet safety through advanced video telematics and driver engagement tools. Horizon Power operates a fleet of 130 vehicles, and the implemented solutions will improve efficiency, compliance, and safety, supporting their digitalization efforts. MiX Telematics serves over 838,300 subscribers globally, providing fleet management solutions across more than 120 countries.
Positive
- Five-year contract with Horizon Power enhances revenue potential.
- Improvement of driver safety and efficiency through advanced technology.
- Partnership supports Horizon Power's digitalization initiatives.
Negative
- None.
Details
News Market Reaction – MIXT
The recorded move for MIXT in the trading session of this news was +2.56%.
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BOCA RATON, Fla. and PERTH, Australia, Aug. 31, 2022 /PRNewswire/ -- MiX Telematics (JSE: MIX), (NYSE: MIXT), a leading global SaaS provider of connected fleet management solutions, is pleased to announce that MiX Telematics Australasia has recently been awarded a contract for power provider, Horizon Power, in Western Australia.
Horizon Power is responsible for generating, procuring, distributing, and retailing electricity to residential, industrial, and commercial customers spread across a broad and challenging geographical area – covering one-quarter of the Australian continent.
MiX Telematics will provide a solution to improve driver behaviour with sophisticated video telematics and driver engagement tools.
Horizon Power's 130-strong fleet of vehicles will be fitted with a range of safety and efficiency promoting solutions from MiX, all of which will work synergistically to provide cutting-edge actionable intelligence to develop and improve key metrics across the company.
The digitised solution will address Fringe Benefits Tax (FBT) and journey management planning to support the delivery of their intensive digitalisation programme.
"We're very pleased that such a reputable power provider is entrusting MiX to deliver actionable information to improve driver safety, efficiency, and compliance. We look forward to working with Horizon Power well into the future to help make their fleet and drivers safer," remarks Managing Director for MiX Telematics Australasia, Brodie von Berg.
About MiX Telematics
MiX Telematics is a leading global provider of fleet and mobile asset management solutions delivered as SaaS to 838,300 global subscribers spanning more than 120 countries. The company's products and services provide enterprise fleets, small fleets and consumers with efficiency, safety, compliance and security solutions. MiX Telematics was founded in 1996 and has offices in South Africa, the United Kingdom, the United States, Uganda, Brazil, Mexico, Australia and the United Arab Emirates as well as a network of more than 130 fleet partners worldwide. MiX Telematics shares are publicly traded on the Johannesburg Stock Exchange (JSE: MIX) and the New York Stock Exchange (NYSE: MIXT). For more information, visit www.mixtelematics.com.
View original content:https://www.prnewswire.com/news-releases/mix-telematics-signs-a-5-year-contract-with-a-utility-provider-301615387.html
SOURCE MiX Telematics
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