News - General News - Parts
Connexion receives first US Flex revenues
Income from development to follow subscription revenues when Flex goes live in US
21 Jul 2015
By IAN PORTER
MELBOURNE-BASED Connexion Media has received its first payment from a United States-based car-maker for customisation work on its Flex product ahead of the product launch later this year.
The first cheque will be part of an estimated total of $500,000 ($US365,000) in customisation fees to be received “in the next few months,” Connexion chief executive George Parthimos said.
The unknown car-maker is planning to launch Flex, a fleet-tracking product using SIM cards installed in vehicles, through more than 4000 dealers in its US network.
Mr Parthimos said the first payment was for rebranding the Flex portal with the brand of the car-maker, establishing a 24-hours a day, seven days a week call centre and customisation for mobile device applications.
He said subscription fee income would start after the car-maker rolls out the Flex product later this year.
“This roll out is crucial for Connexion due to the size of sales potential and the validation it delivers having such a respected big company adopting it and paying us to help with the roll out,” Mr Parthimos said.
“Progress in satisfying all contract obligations is on track. With the commercial launch only a few short months away, this is a very interesting time in the prospects and growth of Connexion.”
The Flex product is able to track a number of vehicles and record a range of data including vehicle locations, distance travelled, fuel consumption, battery life, engine performance and speeds attained.
It can also monitor driver behavior and send notifications and alarms to vehicle owners and fleet managers if criteria are breached.
Connexion is one of only two suppliers to have its internet radio software, miRoamer, installed in General Motors vehicles. The miRoamer platform is also being installed in a number of Volkswagen Group vehicles.
Connexion shares rose five per cent or once cent to 20 cents after the payment was revealed.
The Road to Recovery podcast series
Click to share
General News articles
Research General News
Motor industry news