icetana Limited (ASX:ICE) signs Memorandum of Understanding with Threat Protect (ASX:TPS)

• icetana Limited (ICE) has signed a Memorandum of Understanding with Threat Protect Australia (TPS) to provide active monitoring services
• icetana says feedback from global clients indicates the use of its software leads to reduced requirements for guards, with a $35,000 annual saving for every 100 cameras connected
• Threat Protect says there is a strong focus on developing technology, such as artificial technology (AI), to enhance its offering
• icetana shares are up 5.2 per cent at 10 cents, while Threat Protect shares are in the grey at 1:25 pm AEDT

icetana Limited (ICE) has signed a memorandum of understanding with Threat Protect Australia (TPS).

Both parties have agreed to pursue a proof-of-concept in which Threat Protect provides active monitoring services.

The agreement forms part of icetana’s strategy of specifically targeting the guarding services market.

The company says feedback from existing icetana clients in the Middle East and Japan indicates that utilising its software leads to reduced requirements for guards, with a $35,000 annual saving for every 100 cameras connected.

Threat Protect says there is a strong focus on developing technology, such as artificial technology (AI), to enhance its offering and provide efficiency gains.

icetana CE Matt Macfarlane this agreement will build on its strong presence in the global guarding services market.

“It is always a pleasure to see icetana’s Australian built technology being used by an Australian business leader in their field,” he said.

“This collaboration will drive our continued focus on developing solutions for guarding services clients globally and we are excited by the prospect of working closely with Threat Protect.”

Threat Protect chief executive offer John Hallam also commented.

“We are excited to be working with icetana to develop and explore further enhancements to our monitoring capabilities, allowing us provide more effective monitoring solutions that can potentially be used throughout our network of approximately 70,000 customers,” Mr Hallam said.

icetana shares are up 5.2 per cent at 10 cents, while Threat Protect shares are in the grey at 1:25 pm AEDT.