Newmark Security PLC (LON:NWT) revealed today that its UK-based subsidiary has formed a strategic relationship with a leading distributor of products and services to professional security.
The AIM-listed group said it’s security and attendance services provider subsidiary Grosvenor Technology has teamed up with Videcon Ltd to help push its new Sateon Advance product.
Grosvenor Technology will supply Videcon with a range of access-control hardware and software products and services, on an original equipment manufacturer basis. Videcon will market this range under its Concept-Pro brand as 'Concept Pro Access Control', and it will carry the tagline 'Powered by Grosvenor Technology'.
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This range is based on Sateon Advance, a next generation range of hardware that utilises Grosvenor Technology's Sateon software platform to provide a seamless access-control solution, Newmark said.
"Grosvenor Technology has also developed a bespoke integration into the Videcon iPIMS video management system, which is unique to the OEM variant," said the company.
Marie-Claire Dwek, Newmark’s chief executive, said: “Grosvenor Technology has a long history of providing OEM products to strategic partners, and this arrangement with Videcon is a further step towards our goal of building long-term relationships and brand recognition, which are key steps as we transition to an 'as a service' provider.”
She added: "Newmark's overarching strategy is to significantly increase recurring revenues and we have a number of key initiatives over the medium term to aid this.”
In reaction to the news, in late afternoon trading, Newmark shares were 1.8%, or 0.02p higher at 1.40p