Scout Security (ASX:SCT) receives first purchase order from Prosegur

• Home security provider Scout Security (SCT) has received the first purchase order from Prosegur
• In July, Scout and Prosegur signed a five-year commercial agreement for the company’s products to be rolled out across the globe
• Under this agreement, Prosegur plans to launch and market security products based on Scout’s technology
• Prosegur has now placed its initial purchase order for hardware through Scout
• Everything is currently on schedule to launch Prosegur-branded hardware from Scout into the market this year
• On market close, Scout is down 1.15 per cent and is trading for 8.6 cents per share

Home security provider Scout Security (SCT) has received the first purchase order from Prosegur.

In July, Scout and Prosegur signed a five-year commercial agreement for the company’s products to be rolled out across the globe.

Under this agreement, Prosegur plans to launch and market security products based on Scout’s technology.

Prosegur has now placed its initial purchase order for hardware through Scout.

The companies will now finalise the key aspects of the program, which includes systems integrations, packaging and support infrastructure.

Everything is currently on schedule to launch Prosegur-branded hardware from Scout into the market this year, however, this does depend on the delivery of hardware.

Scout says this purchase order is a significant milestone and cannot announce details of further individual orders due to sensitivity.

Scout CEO and Co-Founder, Dan Roberts, is pleased with the recent productivity of its relationship with Prosegur.

“This hardware represents the core components of what we expect to be new security products available for sale in at least one of Prosegur’s markets,” Dan said.

“This is an important step in the long-term, international cooperation through which Prosegur and Scout plan to launch new smart home security solutions in several markets and push Scout into becoming an international company,” he added.

On market close, Scout is down 1.15 per cent and is trading for 8.6 cents per share.