We are pleased to announce that Quantify Technology has signed an agreement with Harvey Norman Commercial Division (HNCD) to promote and sell Quantify's products into commercial and residential development projects throughout NSW and the ACT.
Shaking hands on the deal:
Kris Leffler, Manager Building Automation, Harvey Norman Commercial Division - Left
Paul O'Connor, Head of Business Development, Quantify Technology - Right
Harvey Norman (ASX:HVN) is Australia's largest retailer of furniture and household appliances. It operates internationally in New Zealand, Europe and South East Asia and has a market cap of $4.34 billion.
HNCD NSW / ACT is the single largest Harvey Norman franchise and provides an extensive selection of brand-name products to builders, developers, architects and designers. HNCD has a projected turnover for this financial year of $300m, with an annual growth rate in excess of 10%. HNCD has offices, showrooms and warehouse facilities in Sydney, the Central Coast, Nowra and Canberra.
Under the agreement, Quantify Technology will establish a demonstration facility at HNCD's showroom at Taren Point in NSW and provide training and engineering support to HNCD's personnel. HNCD will promote Quantify Technology's platform and products to developers of major residential and commercial projects.
Quantify Technology and HNCD are currently finalising reseller/distribution agreements and supply contracts with individual developers for specific projects.
The agreement will see HNCD extend its building automation offerings to both new and existing customers who are primarily large-scale builders and developers in the high rise and home builder sector. This complements its existing bathroom, kitchen and audio visual businesses. HNCD's customers are increasingly looking to include Internet of Things (IoT) technology and smart devices into their developments as demand for higher energy efficiency, convenience and security increases.
The Agreement will significantly accelerate Quantify Technology's commercialisation program and gives the Company exposure to HNCD's large network of customers, consultants, architects, designers and contractors throughout NSW and the ACT.
"We see enormous potential in partnering with HNCD. This agreement significantly advances our commercialisation efforts and gives us a large pipeline of residential project customers in NSW and the ACT and potentially, Australia-wide", said Quantify Technology Managing Director, Mark Lapins.
HNCD's Principal, Alan Stephenson added: "Harvey Norman enjoys a strong market share and a strong customer base supported by an extensive and experienced sales and marketing team. We see increasing demand from customers for Home Automation solutions and Quantify Technology, at the cutting edge, will allow us to enhance our reputation for supplying and supporting leading brands. We think this Agreement will significantly increase the value we offer to our clients".
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