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The latest update is out from Locate Technologies Limited ( (NZ:LOC) ).
Locate Technologies has detailed a three-year services agreement under which its Locate2u platform will provide FedEx Express Australia with last mile logistics technology, covering driver onboarding, compliance, contractor payment processing and an end-to-end delivery management system. The deal includes setup fees and variable revenue tied to driver numbers and platform usage, is non-exclusive, and allows FedEx Australia to terminate on 30 days’ notice.
Implementation will begin with a phased rollout starting at around 200 drivers out of FedEx Australia’s roughly 2,000-strong fleet, with expansion contingent on FedEx’s ongoing review of performance. While Locate Technologies cannot yet quantify the financial impact, it views the relationship as strategically significant in the Australian logistics market and plans to update investors as the deployment progresses, signalling potential operational scale-up if the partnership deepens over time.
More about Locate Technologies Limited
Locate Technologies Limited, listed on the NZX as LOC, is an AI-powered delivery and logistics technology company. It operates two main platforms: Locate2u, a route optimisation and delivery management system used by fleet operators, retailers and logistics providers globally, and Zoom2u, an on-demand courier and delivery marketplace in Australia, both offering route planning, delivery management and real-time visibility, with Bitcoin also held as a reserve asset.
Average Trading Volume: 17,246
Technical Sentiment Signal: Strong Sell
Current Market Cap: N$15.36M
See more data about LOC stock on TipRanks’ Stock Analysis page.