Yojee (ASX:YOJ) continues to amass a strong network of partners in the Asia-Pacific, with the blockchain powered logistics company announcing a 12-month framework agreement with UPS Asia, a subsidiary of the world’s largest package delivery company, United Parcel Service.
Investors will be closely following today’s announcement, with shares in YOJ shooting up 20% in March this year, when a pilot deal was brokered between Yojee and UPS.
Yojee also holds a services agreement with DB Schenker Asia Pacific, the logistics arm of global rail operator Deutsche Bahn.
Today’s announcement verifies UPS’s continued interest in the technology company’s blockchain solutions, with the agreement set to extend over a period of 12 months.
Importantly, Yojee is also permitted to derive fees on any collaborative work, which is a significant upgrade for the company, with the terms of the original UPS pilot agreement stating that no revenue would be raised.
Under the framework agreement, the pair will work together to develop, or improve, services and products for the UPS operating environment, and identify further opportunities to collaborate.
Potential areas of interest for the two parties will be chosen on a project by project basis.
Commenting on the agreement, Yojee managing director Ed Clarke said:
We are excited to extend and broaden our working relationship with UPS, the world’s largest package delivery company, through this overarching innovation partnership which will span technology, software, payments and blockchain.
“Following on from our successful blockchain pilot, this provides further industry validation and endorsement for Yojee’s market leading capabilities.”
UPS (NYSE: UPS) is the world’s largest package delivery company with a market cap of around $95 billion. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide.