Home security provider Scout Security Limited (ASX: SCT) has confirmed the shipment and receipt of the initial customised Scout hardware order supporting the launch of Scout-powered and partner-branded security products in a new geography that is on track to occur early this year.
Scout’s partner in this new geography, Prosegur Global Alarmas ROW, S.L., a subsidiary of multinational security company and Scout shareholder Prosegur Compañia de Seguridad, S.A., is a strategic shareholder in Scout and a global leader in private security, including residential, operating in 26 countries with >160,000 employees.
Shipment is the first hardware order follows announcement of a Commercial Agreement between the parties in July 2020.
Management said this latest development in progressing its white label programme, following the recent news that the company has received initial orders of more than $US1 million from Scout’s first telecommunications partner.
CEO, Dan Roberts, said these initial orders represent the first three months of the telecommunications partner’s programme and comprises forecast monthly orders that will be locked in 90 days ahead of anticipated shipment.
Mr Roberts added that the pending launch in the new geography with Prosegur, combined with the orders from the company’s telecommunications partner, are expected to underpin growth in Scout’s recurring revenue into the second half of CY21.
