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New large agreement strengthens Solar's position in the future of home automation

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Press release

 

The Norwegian company Viva Labs, Solar's partner in home automation, lands a large agreement with the telecommunications company Telekom Austria Group. The agreement strengthens Solar's position as a sourcing and services company, opens up new geographical markets and creates new opportunities for growth and digital business development.

Viva Labs, partly owned by Solar, has entered into an agreement with Telekom Austria Group, TAG, which means delivery of smart home solutions in Austria and Croatia.

An important milestone within Solar's investment in Viva Labs has been reached.

- The prospect of agreements with this type of leading channel partner was an important part of the reason  we chose to invest in Viva Labs. This kind of deal makes their business highly scalable. Therefore, we are pleased to see this progress. Together with Viva Labs we are working to deliver strong smart home solutions through channel partners such as security, energy, and telecommunications companies that are looking for ways to add more value to their customer relations, underlines Chief Commercial Officer Hugo Dorph.

Viva Labs is behind a simple and intuitive smart home platform. The solution is all about control, convenience, and comfort with an easy to use app. The Viva smart home platform collects sensor and GPS data, then uses artificial intelligence to analyse the patterns and routines of the household. Based on this, the solution automatically programs itself, controlling security, heating, and lights without requiring user input.

- Agreements such as the one with TAG opens up new geographical markets for Solar. At the same time, it supports our digital network strategy and strengthens our position as a sourcing and services company within the growth area of smart homes. We can manage purchasing, packaging, and logistics on behalf of Viva customers, says Chief Commercial Officer Hugo Dorph.

New digital business opportunities

Solar plays an active role as an integrator in the development of the future smart home market and sees lots of opportunities in home automation. With this new agreement, we take part in creating growth opportunities.

- We get new business opportunities through Viva's smart home platform and since it is based on open standards we are able to secure the integration with both our key suppliers and large ecosystems. We want to play the integrating role, making sure, that all the different smart devices work well with the right products and solutions for the markets we are in, emphasises Chief Commercial Officer Hugo Dorph.

    

For more information, please contact: Hugo Dorph, Chief Commercial Officer, Solar - tel. +45 2872 0080.

Solar Group is a leading sourcing and services company. Our core business centres on product sourcing, value-adding services and optimisation of our customers' businesses.

Solar Group is headquartered in Denmark, generated revenue of approximately DKK 11.1bn in 2016 and has more than 3,000 employees. Solar is listed on Nasdaq Copenhagen. For more information, please visit: www.solar.eu.

Solar owns approx. 20% of Viva Labs AS. For more information on Viva Labs, please visit: meetviva.com.

Solar PR Viva Labs agreement


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Solar A/S via Globenewswire

Vedhæftet fil: 820419.pdf

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