- Scout Security (SCT) and its strategic partner, Prosegur, have launched their home security kit, Qido, in Peru
- The companies signed a commercial deal in July last year to roll out Scout's products but have them branded under Prosegur's name
- Excitingly, Peru marks the first country Qido has been launched in and will be followed by two or three more Latin American countries before the end of 2021
- Customers are now able to purchase Qido online and Scout and Prosegur are implementing a marketing plan to target customers in Peru
- Scout ended the day 4.35 per cent in the red with shares closing at 11 cents
Scout Security (SCT) and its strategic partner, Prosegur, have launched Qido in Peru.
The companies entered a commercial agreement in July last year to roll out Scout's products internationally.
Under the five-year deal, Prosegur paid Scout US$500,000 (roughly A$647,155)
to customise Scout's platform to have it be branded under Prosegur-owned brands and potentially sold to the 26 countries Prosegur operates in.
Three months later, Scout received its first purchase order from its strategic partner for its hardware.
"This launch is an important step not only in the long-term, international cooperation between Prosegur and Scout, but also in the development of our white-label program as a whole," Scout Security Co-founder and CEO Dan Roberts said.
Qido is Prosegur's self-installed security product suite powered by Scout's hardware and software.
The modular Qido kits provide a full suite of home security products. These include central alarm hubs, motion sensors, HD cameras and remote controls, as well as a mobile app that allows the user to fully control all functions.
Prosegur considered Peru to be the ideal place to launch the Qido product first as it would allow the companies to efficiently expand into two or three more Latin American countries before the end of this year.
"We are extremely excited to see Qido launch into Peru with our partner Prosegur, which we anticipate will be the first of many countries where Qido will become available," Dan said.
Customers are now able to purchase Qido from its own website and Scout and Prosegur are implementing a marketing plan to target customers in Peru.
"This launch is the embodiment of the hard work of the last eight months and it marks the starting point of Scout’s exposure on an international scale," he concluded.
Scout expects to see growth in recurring monthly revenue in the second half of the year through monitoring service plans as Qido gains more traction.
Scout ended the day 4.35 per cent in the red with shares closing at 11 cents.