Shares in Scout Security gained today after receiving an order for 1000 hubs from Zego, a leading US provider of smart home device and service packages to apartment residents and managers.
According to the ASX-listed home security provider, the purchase order is a key milestone in the joint plan for Scout and Zego to maximise market penetration in the 18.8-million-unit apartment community channel in the US.
Zego has now ordered more than 2000 Scout hubs and remains on target to deploy 5000 to 10000 systems in the 12 months since the companies commenced a sales partnership in October 2017.
“In a matter of months, we have embedded Scout as an integral component of Zego’s smart home package, achieving a valuable beachhead in an attractive market historically overlooked by security providers,” Scout Security co-founder and CEO Dan Roberts said.
“As this and other channel partnerships continue to flourish, we expect to achieve ongoing growth in revenue as we expand Scout’s installed base.”
Scout is in talks with additional potential resellers and distribution partners across the US retail, consumer and utility sectors.
Shares in Scout (ASX:SCT) were trading 0.5c higher this afternoon at 32c.
