Black and Decker partnership a game changer
Scout Security (ASX:SCT) has signed a partnership deal with Stanley Black & Decker, Inc. ((NYSE: SWK), ‘SBD’) to license Scout’s home-security platform and hardware suite. A Fortune 500 company with a current market capitalisation of approximately US$22 billion, SBD is also the world’s largest power tool and storage supplier, and the second largest provider of security services globally. Highlights of the announcement include the following.
- SBD to license and sell Scout’s home-security platform.
- The partnership grants SBD the right to deploy the Scout software platform and hardware suite across its brands and security business units globally.
- The combination of Scout’s platform and SBD’s offerings provides numerous near- and long-term opportunities in both residential and commercial security.
- Work on establishing a commercial offering begins immediately, with SBD purchasing a block of prepaid licenses for AU$408,000 (US$300,000).