As part of a 10-year licensing agreement, it will be partnering with Eastfield Lighting in a US$250,000 contract.
Buddy Technologies (ASX:BUD), a cloud-based smart lighting company announced that it has received a contract for 500,000 smart lighting licenses from Eastfield Lighting. The deal, Buddy’s largest to date, is valued at US$250,000.
As quoted in the press release:
“Having spent a lot of time at Eastfield’s factor in Shenzen and seen the vast scale at which they manufacture lighting products, I’M delighted to have the opportunity to work with Eastfield on malog their products smart, and delivering even greater value to their customers globally”, said David McLaughlin, CEO of Buddy Technologies Limited. “The fastest way for us to place our technologies into some of the most prominent brands and products in the world, is to do so via partnerships with their manufacturers such as this. This agreement is a big win for our Commercial licensing team and for future customers of Eastfield’s lighting products.”