Media Release
Transportation technology services company EROAD Limited (NZX/ASX: ERD) (EROAD) today announces that it has signed its largest Australian enterprise customer, Ventia.
Ventia is one of the largest essential services providers in Australia and New Zealand, specialising in the long-term operation, maintenance, and management of critical public and private assets and infrastructure for corporate and government clients across a broad range of sectors.
Ventia has entered into a five-year agreement for a monthly subscription of EROAD's SaaS products and intends to install approximately 2,500 Ehubo 2 devices in their Australian fleet with a further 1,500 in their New Zealand fleet. The agreement does not however specify any minimum unit commitment. It is anticipated that these Ehubo units will be installed throughout the 2021 calendar year. EROAD entered the Australian market in 2018 and has been building its brand on the back of regulatory reform which has provided a significant low-cost growth option. As at 31 December 2020 EROAD was providing monthly subscriptions to small-to-medium customers with 2,625 connected units. This agreement will almost double EROAD’s presence in the Australian market, with a remaining short to medium term enterprise pipeline of some 15-20,000 connected vehicles.
"EROAD is pleased to announce that Ventia, an existing New Zealand customer for a number of years, has chosen to come on board as an Australian enterprise customer as well as significantly increasing the size of its New Zealand fleet utilising EROAD services. EROAD is looking forward to working in partnership with Ventia to deliver best safety outcomes" said EROAD’s CEO, Steven Newman.
Ventia's Group Chief Executive Officer, Dean Banks said "Safety and health above all else is our number one priority at Ventia. We are delighted to enter this strategic partnership with EROAD, which will enhance our ability to improve safety for our people, our clients and the communities we operate in."
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For further information please contact:
Investors:
Alex Ball
CFO
alex.ball@eroad.com
Media:
Courtney Ayre
Marketing Director, Australia and New Zealand
courtney.ayre@eroad.com
About EROAD
EROAD Limited (ASX: ERD; NZX: ERD) (“EROAD”) purpose is safer, more productive roads. EROAD develops and markets technology solutions to manage vehicle fleets, support regulatory compliance, improve driver safety and reduce the costs associated with operating a fleet of vehicles and inventory of assets. EROAD has a proven SaaS business model and is experiencing continuing growth in installed units and revenue. EROAD has operations in New Zealand, North America and Australia with customers ranging in size from small fleets through to large enterprise customers. For more information visit www.eroadglobal.com/global/investors
About Ventia
Ventia provides essential services to make infrastructure work for communities in Australia and New Zealand. We pride ourselves on safe and sustainable services for our corporate and government clients across a broad range of sectors, including transport, telecommunications, utilities, defence, water, energy, resources and social infrastructure. Ventia is an independent partnership between funds managed by affiliates of Apollo Global Management and the CIMIC Group.