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Satelinx Nabs $525,000 Purchase Order, Forms Joint Venture
Satellite vehicle tracking services providers Satelinx International Inc. today said it has received an initial purchase order for 1,300 units of an undisclosed product worth $525,000.
The initial purchase order comes to Satelinx as the result of a joint-venture agreement with the Piliouri Group of Greece to form Satelinx Greece. Satelinx will contribute $1.5 million in technology license and software to the joint venture and the Piliouri Group will invest $1.5 million, including the initial purchase order, hardware, staffing and marketing budget. Piliouri will own 51 percent of the joint venture company. Satelinx said that once the initial 1,300 units are installed, Satelinx will generate initial sales of $1.4 million and $350,000 in yearly recurring revenue.
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