Deal to extend real-time logistics solutions
A
Savi Technology product story
Edited by the Engineeringtalk editorial team
Jun 6, 2002
Savi Technology has formed a strategic partnership with SembCorp Logistics to provide and market complementary solutions for customers in the Asia-Pacific region and worldwide.
Savi Technology has formed a strategic partnership with SembCorp Logistics to provide and market complementary solutions for existing and prospective customers in the Asia-Pacific region and worldwide.
The strategic partnership is an extension of the collaboration between the two companies over the past year in promoting real-time security and management of supply chain assets and infrastructure to the public sector in Singapore.
With this partnership, Savi Technology and SembCorp Logistics (SembLog) will work jointly to develop applications and market Savi's solutions, systems and processes for supply chains internationally.
Savi Technology and SembLog, which also has a strategic partnership with Kuehne and Nagel International, one of the world's leading logistics groups, will establish a demonstration center in Singapore to market Savi's hardware and software solutions for supply chain management.
"This strategic partnership helps solidify our growing relationship with a major logistics service provider, and provides Savi with important new channels of business opportunity, especially in the Asia-Pacific region", said Vikram Verma, the president and CEO of Savi Technology, which already has extensive marketing, engineering and business operations in Singapore.
Koh Soo Keong, president and CEO of SembLog, stated: "Savi Technology has established itself as an innovator of unique real-time solutions for managing and securing supply chain assets.
We are delighted to be the first logistics company to be named a strategic partner of Savi.
SembLog operates a comprehensive supply chain network in the Asia-Pacific region and we work extensively with organizations involved in the logistics infrastructure of Singapore.
As a result, this partnership with Savi will not only enhance our technology edge but also will help to maintain Singapore as a leading hub for global supply chain operations".
Koh added: "We look forward to working closely with Savi Technology.
Whether it's in Asia Pacific or other parts of the world, we can leverage our combined strengths to develop and deploy real-time solutions in order to provide a secure supply chain infrastructure for companies".
In addition to the strategic partnership, SembCorp Industries is investing US$5 million in Savi as part of its Series C round of funding, and SembLog is investing US$10 million.
The new investments increase the amount raised by Savi Technology in its Series C round to US $35 million, and increase the amount it has raised since its management buyout in May of 1999 to a total of US$93 million.
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