East Coast Diversified, through its subsidiary EarthSearch Communications, today announced it has entered into a five-year master distributor agreement with Komtelecom in Russia, valued at approximately $5 million.
EarthSearch's solutions utilize wireless communication between GPS and RFID to deliver solutions that include warehouse operation, movement of secured cargo, oil tankers, pipeline and other fixed assets management solutions, as well as fuel monitoring, temperature sensor, weight sensors, door sensor, and a variety of other custom applications.
Per the agreement, Komtelecom will serve as EarthSearch's exclusive representative in Russia, and will hold non-exclusive representation in 10 other former Soviet Republics. Komtelecom will also host EarthSearch software under a special licensing agreement, and will secure its own local distributors and partners in the region through which it will offer EarthSearch's logistics solution.
East Coast Diversified has had its eye on the Russian market, and for the first time, the company will host its proprietary GATIS applications outside the United States, in Russia. EarthSearch will modify its hardware to utilize the Russian made Glonass GPS receivers, which works exclusively within the Russian territory and former Soviet republics. Minimum annual purchases under the agreement will average $1 million annually, including other development and service costs.
"We have been working to establish presence in this region for some time now. It is a vibrant and fast growing market with significant need for advanced cargo and asset security technology. EarthSearch offers complex logistics application well suited to the needs in Russia. I am looking forward to working with Boris Kunin, CEO and all the other executives at Komtelecom," Kayode Aladesuyi, CEO of East Coast Diversified stated in the press release.
For more information, visit eastcoastdiversified.com
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