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The latest update is out from t42 IoT Tracking Solutions PLC ( (GB:TRAC) ).
t42 IoT Tracking Solutions PLC has extended its US$1.3 million secured convertible loan with Contguard Ltd. to December 2027, maintaining all existing terms. Additionally, Contguard has committed to purchase t42 tracking product units worth over US$2.5 million, with initial orders already placed and deliveries underway. This agreement is seen as a strong endorsement of t42’s technology and market positioning, with expectations of significant SaaS revenue generation from the deployment of these units.
More about t42 IoT Tracking Solutions PLC
t42 IoT Tracking Solutions PLC is a global provider of real-time tracking, analysis, monitoring, and security IoT solutions for the container and freight market. The company operates in 55 countries with over 100 distributors and 50 logistics and support partners. Its multi-sensor IoT tracking devices offer a wide range of detection capabilities with cloud-based analytics and alerts, serving ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities, homeland security, and police.
Average Trading Volume: 285,882
Technical Sentiment Signal: Sell
Current Market Cap: £1.44M
Learn more about TRAC stock on TipRanks’ Stock Analysis page.