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- Flexiroam (FRX) signs its first maritime communications enterprise data agreement
- The company penned a deal to provide connectivity to NearshoreNetworks, which will deploy Flexiroam’s network to supply data to client vessels under its services management platform
- This will cover a range of uses, including offshore internet, vessel tracking vessel systems connectivity and other large volume secure data movement to shore, with the data accessed by vessels in the US, Brazil, Europe and Middle East
- Flexiroam says the agreement will significantly contribute to its growing recurring revenue stream, as data commitments are rolled out
- Flexiroam are up 2 per cent to 5.1 cents
Flexiroam (FRX) has signed its first maritime communications enterprise data agreement.
The company penned a deal to provide connectivity to NearshoreNetworks, a company considered the top independent global maritime connectivity solutions supplier to energy markets.
Under the agreement, NearshoreNetworks will deploy Flexiroam’s network to supply data to client vessels under its services management platform. This will have a range of uses, including offshore internet, vessel tracking vessel systems connectivity and other large-volume secure data movement to shore. The data will then be accessed by vessels in the US, Brazil, Europe and the Middle East.
The agreement has an initial three-year term, subject to terms and conditions.
“This long-term agreement ensures our client vessels will always receive optimal connectivity and network control regardless of their location,” said NearshoreNetworks CEO, Bob Miltenberger.
“The Flexiroam controls will be incorporated into our management toolset to provide clients the full range of secure maritime connectivity solutions, all with guaranteed connection uptimes of 99.5 per cent.
“As client bandwidth needs constantly increase, it’s very important that we provide a cost-effective cellular solution when near shore that complements our global satellite connectivity.”
Flexiroam said the agreement will significantly contribute to its growing recurring revenue stream, as data commitments are rolled out. The deal is expected to add substantial value, with the minimum data volume committed for this partnership sitting at 24 terabytes per annum.
The data volume is likely to scale over time as customer usage increases and as additional countries and regions are included.
Flexiroam CEO and Executive Director, Marc Barnett said the company is pleased Nearshore selected Flexiroam as its global data provider to ensure their vessels can reliably receive data at sea.
“The agreement is our first enterprise deal in the maritime industry, and in line with our strategic objective of scaling out our Flexiroam Solutions business to key global sectors,” said Marc Barnett.
“Having invested in our team and infrastructure in recent months, we are well positioned to rapidly expand our reach in the maritime space through NEARSHORE and continue to enter new solution verticals.”
Flexiroam were up 2 per cent to 5.1 cents at 10:25 am AEDT.
