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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.