$5.1m IOT contract - new US franchise line

Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, is pleased to announce a $5.1m (£4.05m) order for an IOT technology solution to a US customer from a new franchise line supplied by Solsta, its Components division.

The contract combines hardware and software applications in a value-added industrial application, leveraging off the international capabilities of the Group by exporting its UK expertise into the US market.

The customer solution, creates smart vending machines by enabling smart billing and intelligent inventory control and management through the combination of an industrial router and cloud based services. The success of this contract demonstrates the Group strategy of broadening its complementary technology set and internationalising the Group.

Delivery of the contract is expected to commence in Q2 calendar 2024 and be completed by middle of calendar year 2025.

Solsta is additionally expecting to work with the client to develop a Gen 2 5G router based successor to the current technology.

Commenting on the contract award, Jon Baxter, Executive Director Sales & Operations EMEA at Solsta, the Group's Components division, said:

"The recent restructuring of the Pacer business in the USA has enabled this significant development in the Components division.

"This solution brings together both access to hardware and engineering 'know how' to create a product which matches the needs of our client exactly."

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