Join our daily newsletter At The Bell to receive exclusive market insights
- ServTech, soon to be renamed Vection Technologies, has entered a distribution agreement with Fulvisol, a Scandinavian software specialist
- The deal means Fulvisol will market and distribute Vection’s FrameS virtual reality software to its clients across Europe and the U.S.
- The software expert has a strong presence in Scandanavia which it has built for over two decades
- Vection is building its European presence to align with the Industry 4.0 tech revolution, in which Fulvisol is the 9th partner to come onboard
- Next up for the company is expanding its reseller network in North America and the Asia Pacific
- Company shares are up 6.25 per cent, trading for 1.7 cents each
ServTech Global, to be renamed Vection Technologies, has entered a distribution agreement with Fulvisol Oy, a Scandinavian software specialist.
The agreement with Fulvisol enables Vection to deliver transformative software solutions that are aligned with Industry 4.0 to Northern European companies.
“Fulvisol will be a key partner in Vection’s expansion into Northern Europe. We anticipate the commercial launch of FrameS at the end of November 2019,” ServTech Managing Director Gianmarco Biagi said.
Industry 4.0 is described as the fourth worldwide industrial revolution.
WA-based Vection has added multiple software distribution deals to its portfolio in 2019 – The Fulvisol agreement is their ninth deal this year.
The Scandinavian specialist deploys software solutions to leading international clients in the services, manufacturing and consumer industries, and has been for over 20 years.
Fulvisol’s clients are based in Finland, Norway, Lithuania and the United States.
Vection has established a significant network of value-added resellers and distributors in anticipation of its FrameS virtual reality Software-as-a-Service (SaaS) platform launch at the end of this month.
Under the agreement, Fulvisol will commercialise Vection’s FrameS to its customer base focusing on the research and development, product design, and manufacturing functions.
“FrameS is a cutting-edge Virtual Reality software revolutionising manufacturing processes aligned with Industry 4.0 trends,” Fulvisol CEO Petri Surakka said.
“We are very excited [to enter] this partnership and look forward to the commercial launch of FrameS toward the end of November 2019,” Petri added.
Gianmarco considers the software distribution deal a milestone, and says Vection will now focus on expanding the company’s network in North America and the Asia Pacific.
Servtech shares are up 6.25 per cent, and trading for 1.7 cents each at 10:09 am AEDT.
