- A2Z Technologies (TSXV:AZ) has won a new four-year contract from the Israel Police
- The contract will involve greater responsibility than previous similar contracts, but will also guarantee greater revenue
- A2Z will provide the police with maintenance and repair services, and care for specialised equipment
- A2Z Technologies (AZ) was down 2.94 per cent, with shares currently trading at $0.66
Military-grade technology company A2Z Technologies (TSXV:AZ) has been awarded a new four-year contract by the Israel Police.
According to A2Z CEO, Bentsur Joseph, the company won a similar contract with the Israel Police four years ago. Following the completion of that contract, the Israel Police decided to issue a new four-year contract to A2Z.
The new contract has an expanded scope in comparison to its predecessor. A2Z will also receive a guaranteed revenue of at least C$600,000. This represents an increase of over 250 per cent from the last contract.
“This shows the high level of satisfaction that the Israel Police has from A2Z,” Joseph said.
According to the new contract, A2Z will provide police stations throughout Israel with maintenance and repair services, and specialised care for equipment and products.
In return, the contract will broaden and deepen the A2Z’s relationship with various branches of the Israeli Government. A2Z already has a well-established partnership there, having been a contractor for the Israeli Ministry of Defense for some time.
“I believe that over the life of this contract, it will generate significant revenue for A2Z, far exceeding the $600,000 guaranteed minimum.
“We are excited and delighted to have signed this contract and to continue generating revenue for the company with such strategic clients. I believe that this contract will also pave the road for additional similar contracts with other large governmental agencies in the very near future,” Joseph said.
A2Z Technologies (AZ) was down 2.94 per cent, with shares currently trading for $0.66 at 4:05pm EST.