Addvalue bags contract worth at least US$1m from Indonesian firm
ADDVALUE Technologies has entered into an agreement with an Indonesian company which will purchase a minimum of US$1 million worth of Addvalue's proprietary very small aperture terminal solution for the next one year.
The Indonesian partner specialises in providing satellite communication and IT solutions to the Indonesian government and its military agency.
The agreement is renewable annually, subject to a minimum order commitment from the Indonesian company for the subsequent 12 months. The Indonesian firm is also promoting Addvalue's value-added services and solutions for Internet-of-Things and Machine-to-Machine markets, including one related to rural banking in Indonesia.
Noting that there is a market of more than 12,000 rural banking ATMs in Indonesia - of which 50 per cent need satellite connectivity in the near future - Addvalue said it is well-poised to be one of the chosen solution providers.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race