Join our daily newsletter At The Bell to receive exclusive market insights
- Icetana’s (ICE) largest customer has extended its shopping mall contract in the Middle East, as the company receives its first South American order
- The contract renewal covers 12 months and is worth $465,000 in recurring licence fees for existing cameras, already installed over 16 shopping centres in the Middle East
- In other news, Icetana received its first revenue from the South American market from NEC Argentina
- The company is developing its next generation motion intelligence product, with four trial customers secured for the beta release next month.
Icetana’s (ICE) largest customer has extended its shopping mall contract in the Middle East, as the company receives its first South American order.
The contract renewal covers 12 months and is worth $465,000 in recurring licence fees for existing cameras, already installed over 16 shopping centres in the Middle East.
It was renewed with Majid al Futtaim Properties (MAF) who has been using icetana’s motion intelligence system for enhanced security.
ICE believes it will see a continued relationship with MAF as COVID-19 conditions improve and shopping mall operations return to full capacity.
In other news, Icetana received its first revenue from the South American market from NEC Argentina. This comes after it expanded its sales strategy to include new markets.
The company is developing its next generation motion intelligence product, with four trial customers secured for the beta release next month.
Shares closed flat today at 5 cents each.
