DGC
DGC
DGC - Digicore Holdings Limited - Voluntary announcement: Digicore
Partners with Discovery Group to target the short term insurance market
DIGICORE HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1998/012601/06)
Share Code: DGC
ISIN Number: ZAE000016945
("DigiCore" or "the Company")
VOLUNTARY ANNOUNCEMENT: DIGICORE PARTNERS WITH DISCOVERY GROUP TO TARGET
THE SHORT TERM INSURANCE MARKET
It gives the Board pleasure to announce that DigiCore has concluded an
agreement with the Discovery Group to be their exclusive partner of
Telematics products for Discovery`s short-term insurance company,
Discovery Insure. The product used will be a CtrackRegistered device
from Digicore, branded as DQ-trackTM by Discovery, with the telematics
services also provided by Ctrack.
Discovery started a formal process in early 2010 to identify a technology
and business partner and ultimately selected Ctrack. This agreement now
gives DigiCore access to a potential market of approximately 1 million
vehicles in South Africa owned by people dealing with Discovery.
We view our technology and products as `intelligent solutions` and
recovering stolen vehicles is only a by-product of the services we
render. Our technology has the ability to generate data that already
started to revolutionise the short-term insurance industry as it is known
today. In partnership with Discovery, our goal is to further advance the
use of telematics in this particular industry while servicing their
clients with the best possible interactive telematics solution. We
envisioned this advancement and partnership for a long time and we are
very pleased to see it realising today.
The exact financial impact on DigiCore is still unknown and the Board
does not want to speculate at this stage.
14 June 2011
Sponsor
PSG Capital (Pty) Limited
Date: 14/06/2011 15:26:01 Produced by the JSE SENS Department.
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