Trakm8 Holdings PLC (LON:TRAK) shares rose on Wednesday as it has extended an agreement to supply fleet incident management specialist FMG Ltd with telematics-based services for a further three years.
The AIM-listed firm said it currently provides telematic-based services for approximately 5,000 FMG vehicles.
READ: Trakm8 awarded Australian telematics supply contract
The company said FMG's 'Ingenium Dynamics' Driver Behaviour Telemetry solution uses Trakm8's telematics devices to extract raw driver behaviour data from vehicles. This data is then fed into FMG's system to create risk profiles for each of its customers.
John Watkins, executive chairman at Trakm8, said: "Trakm8 has been working with FMG since 2014 when we shipped our first units and this has subsequently increased to about 5,000 FMG vehicles.”
He added: “This is a great example of how the stickiness of our products enables Trakm8 to grow with its clients and subsequently increase the number of connections. We look forward to continuing our successful relationship with FMG going forwards."
In morning trading, Trakm8’s shares rose 1.45% to 105.00p.