TZ (ASX:TZL) signs global roll-out deal with Bank of America

• TZ’s (TZL) U.S. Subsidiary Telezygology, has signed a 3-year contract with Bank of America for a global roll-out of Smart Lockers
• Its Smart Lockers will potentially be across 54 locations, with 32 in Asia and Europe and the remaining American based
• The company says this agreement is the first of its kind
• On market close, TZ remains steady and is trading at 10¢ per share

TZ’s (TZL) U.S. Subsidiary Telezygology, has signed a 3-year contract with Bank of America for a global roll-out of Smart Lockers.

TZ is a technology company and is the leader in smart devices. It creates smart locking devices with remote software control.

The systems deliver asset level protection and compelling solutions for security, monitoring and control applications.

Its Smart Lockers will potentially be across 54 locations, with 32 in Asia and Europe and the remaining American based.

The contract between the companies will be finalised with JLL/CBRE on behalf of Bank of America.

TZ says this contract is to be material in value to its U.S business and expects to be in a position to advise on the estimated value of the contract, following the finalisation of the contract and deployment planning.

TZ says this agreement is the first of its kind for the company.

“With a global corporation awarding business to one Smart Locker provider for multiple international site deployment, this supports TZ’s corporate strategy and the basis of growth projections for the company,” it stated.

On market close, TZ remains steady and is trading at 10¢ per share.