• The Company’s European distributor, dDOTDNA Italia together with Federperiti Servizi Innovativi has won an expanded contract with FCA Bank
• Revenue from dDOTDNA Italia expected to more than double over time
DataDot Technology Limited (the Company) is pleased to announce that its distributor, dDotDNA ITALIA S.r.l (dDotDNA ITALIA) together with Federperiti Servizi Innovativi S.r.l. (a service provider for insurance companies), has won an expanded contract with FCA Bank S.p.A.
FCA Bank is related to the Fiat Chrysler Automobiles Group and the Crédit Agricole Group.
In addition to renewing supply arrangements for Italy the contract provides for an expansion of the successful Italian offering t o 13 other European countries.
The Company’s revenues from dDotDNA ITALIA are expected to more than double once this expansion is fully deployed into all markets.
The expansion is expected to commence in FY2016/17.
dDNotDNA ITALIA was selected by FCA Bank following a competitive partner selection process and will supply the Company’s micro-dots to FCA Bank.
Additionally a QR code has been included in the on-vehicle labeling to enable smart- phone readability for instant access to DataDot’s Global Database that contains PIN – VIN association.
Temogen Hield, the Company’s Chief Executive Officer, commended dDotDNA ITALIA on its success and said that the expansion of the contract with the Federperiti Servizi Innovativi to support FCA Bank for aftermarket financial & insurance products highlighted the continuing strength of micro-dots as a cost effective car theft deterrent.