icetana Limited (ASX:ICE ) has landed announce a contract for software to be provided to AE Security System, one of Malaysia’s most experienced and renowned security firms.
The order has an aggregate value of around $465,000, and is for an initial contract term of 36 months. The end user is 1 Utama, the largest shopping mall in Malaysia. While icetana AI is already a well-known and trusted provider in the shopping mall security segment, this is the company’s first sale in Malaysia, a region that represents a large opportunity for additional growth for icetana AI.
The contract is priced on a software-as-a-service basis, in line with icetana AI’s strategy to increase its annual recurring revenue (ARR), and will add $155,000 to its ARR.
“We are delighted to welcome AE Security System as a new partner in the Malaysian market. This sale is supported by our product strength in delivering autonomous security solutions in retail, our go-to-market in focussing on security integrators servicing large shopping malls and our new sales team. It’s an exciting time for icetana AI as our investments in the business bear fruit,” CEO, Kevin Brown, said.
icetana AI produces AI video analytics software to help security and IT teams manage large scale surveillance networks.
Security operators often have thousands of cameras to monitor and IT teams need to configure these camera streams. icetana AI offers a practical solution.
Its AI technology learns what's normal for each camera, identifying and reporting any unusual or potentially dangerous events in real time.
Designed to handle large scale surveillance networks, icetana AI's technology eliminates the need for individual camera stream configurations or rule-setting.
The company provides AI video analytics software, hardware, and cloud solutions, serving diverse industries including guarding services, retail, hospitality, public safety, transportation, education, and large enterprise.
icetana AI has a global footprint, with its AI solution used across 30+ clients, 75+ sites, and 16,000+ cameras and 15+ countries.