Description of business:
Starcom plc ("Starcom" or the "Company"), originally founded in 2004, is a technology company specialising in the development of wireless solutions for the remote tracking, monitoring and protection of various types of assets and of people. The Company's main country of operation is Israel.
The Company currently has three principal products in production - the Helios, a vehicle location and fleet management system, the Watchlock, an award winning high security padlock and electronic alarm monitoring system jointly owned with Mul-T-Lock Technologies Ltd (part of the Swedish-based ASSA ABLOY group) and the Triton, a shipping container tracking system. In addition, the Company has two new products, the Rainbow, a tracking system for children and the elderly and the Kylos, a merchandise tracking system, which are expected to be launched in 2013. Starcom Online, a web-based and mobile tracking and monitoring application, and Starcom Control, an operational emergency security centre application, are designed to be used in conjunction with all of the Company's products.
The Company currently uses distributors to market its products throughout the world and has focused on emerging markets throughout Africa, South America, some countries in Europe and Asia. It derives revenues from hardware sales to distributors (rather than the ultimate end user) and monthly web revenues from the provision of Starcom Online, to facilitate the tracking and monitoring features of the systems, and the provision of Starcom Control if required.