NetComm Inks Big Japan Deal
The deal involves delivery of wireless M2M products to Kanematsu Communications’ major export and telecommunication carrier customers, NetComm told the ASX yesterday.
It will also see NetComm opening a branch office in Tokyo to support market development.
NetComm says the Japanese M2M market is seeing rapid growth as carriers accelerate deployment of M2M systems designed to connect and control assets such as vending machines, parking stations, point-of-sale terminals, digital signage, security systems and medical equipment.
The deal presents “tremendous new expansion and growth opportunities for the company,” said CEO David Stewart, though he did not put a figure on likely sales.
NetComm shares closed at 62.5 cents yesterday, up 3.3 percent on the day, and more than twice the low-20s level of late last year. The shares jumped sharply in mid-March, drawing a query from the ASX, but NetComm management at the time said it had no knowledge of any reason for the rise, apart from the fact it had been conducting a number of investor presentations.