exactEarth announces $7.0 million expansion of channel partner agreement
exactEarth Ltd., a leading provider of Satellite-AIS data services announces an expanded alliance agreement with one of its existing channel partners. All financial figures are in Canadian dollars unless otherwise stated.
The Amended Agreement extends the current agreement between the companies by three-and-a-half years through to December 2023. exactEarth estimates that this Amended Agreement will generate additional incremental revenues of approximately $7.0 million, or $2.0 million per year on an annualized basis. Under the terms of the Amended Agreement, the Partner is able to deploy exactEarth’s exactViewTM RT advanced real-time Satellite-AIS data services into their full range of advanced maritime analytics products, derived services and international data customers. The agreement also provides both Parties with expanded reseller rights which enable further sales potential over the term of the agreement.
“We are pleased to significantly expand our relationship with this Partner, who is a leading information and data analytics provider,” said Peter Mabson, President & CEO of exactEarth. “Expanding and building on key channel partner relationships is an important part of our growth strategy which we believe will help us increase our market leadership and achieve our key financial objectives such as continued revenue growth, positive Adjusted EBITDA and positive cash flow.”