Transense and Tip Top sign million pound deal
Transense Technologies Plc reports that its Translogik tyre management solutions division has signed an exclusive agreement to supply its tyre inspection probe to Rema Tip Top Holdings UK Limited for use in Rema Tip Top’s new passenger car tyre inspection system, ‘Tip Top Tread’.
Tip Top Tread, based on Translogik’s proprietary tyre probe technology, will provide a quick, efficient and accurate wireless car tyre inspection system to the tyre sales and fitment industry. The rollout, initially to the UK market, is scheduled to begin towards the middle of 2015.
Rema’s exclusivity applies only to use of the probes in conjunction with the Tip Top Tread system, which is focused on the passenger car market and is contingent upon achieving agreed, rising quarterly minimum levels of UK sales totalling at least £1.1 million in aggregate over the next three years.
Mark Insley, group managing director of Rema commented: “As a market leader in the automotive sector, we believe our new Android based ‘Tip Top Tread’ system will achieve rapid market adoption. The UK market alone is estimated to be 40,000 tyre outlets which could benefit from the sales enhancing features of Tip Top Tread.”
Graham Storey, CEO of Transense, said: “We are delighted to have secured this deal with Rema. Not only has Rema responded rapidly to this opportunity, but they also have a powerful market position both in the UK and in Europe. We believe their established sales network and market expertise is capable of driving probe sales into the car tyre market much faster than would otherwise be achievable, and supports our strategy of diversifying into the substantial passenger vehicle market.”
In December T&A published detail of Translogik’s latest technological solutions.