- ServTech’s subsidiary, Vection Italy, has signed a partnership and distribution agreement with Altea Federation
- Altea is a top 30 Italian software and IT services provider
- It will leverage its salesforce to distribute ServTech’s VR and AR software services (50 per cent FrameS) to target net revenues of approximately A$1,700,000 for Vection
- This deal will expand Vection’s distribution footprint in global manufacturing
ServTech has announced a partnership and distribution agreement between its subsidiary, Vection Italy, and top 30 Italian software and IT services provider Altea Federation.
Under the agreement, Altea will leverage its salesforce to distribute ServTech’s virtual reality (VR) and augmented reality (AR) software services to target net revenues of approximately A$1,700,000 for Vection.
Altea expects to hit this revenue target over the next three years, with A$400,000 to be achieved by December 2020.
Of Altea’s revenue target, a total of 50 per cent is anticipated to come from the sale of FrameS, which is Vection’s real-time VR Software as a Service (SaaS) product.
ServTech has been a key player in the revolution of VR visualisation.
The FrameS software helps various industries such as architecture, engineering, and fashion and retail to create VR visualisations prior to purchases to save time and costs for producers and customers.
ServTech claims this is a key milestone for its strategy to shift from a product-based model towards a subscription-based SaaS model.
“With global virtual reality adoption growth, Altea Federation is a strategic partner, pivotal in the affirmation of FrameS as a leading VR visualisation software for global businesses,” ServTech Managing Director Gianmarco Biagi said.
Altea is considered a prestigious brand with an impressive clientele of national and international businesses including Gucci, Ferrari, Maserati, Duracell, Colnago, and more.
Altea has over 25 years experience with collaborating with world leaders in technological innovation.
Its Founder and President, Andrea Ruscica, stated FrameS is a “game-changing software”.
“This agreement enables Altea Federation to leverage its significant in-market presence and 1300 resources to deliver strong sales results across the automotive, fashion and machine building industry segments,” Andrea said.
Under the agreement terms, Altea will retain exclusive rights to market Vection’s products and services to the automotive, fashion, and machine building industries.
This deal will expand Vection’s distribution footprint in global manufacturing.