SYDNEY: Scout Security Limited announced an expansion in its white label program with the signing of a Master Services Agreement with Windstream Services LLC.
The agreement will see Windstream license and brand Scout’s end-to-end home security platform and hardware suite for distribution to new and existing Windstream customers in the US market under Windstream’s Kinetic Secure Home brand.
Based in Little Rock, Arkansas and privately held, Windstream offers bundled services including high-speed broadband Internet, entertainment, security solutions, voice and digital TV to residential customers through an enhanced fibre network and 5G fixed wireless service.
Windstream also provides data, cloud solutions, unified communications and managed services to small, medium and large business and enterprise clients and government agencies. It is a leading nationwide telecommunication company that generates more than US$5 billion annually and has recently secured US$2 billion in growth capital to fuel the business moving forward.
Windstream services approximately 1.3 million North American households who, with new Windstream customers, will comprise the addressable market for white labelled products.
Scout Security co-founder and CEO, Dan Roberts, said: “We are delighted to partner with Windstream and quickly launch their brand into the smart home space with our connected security platform and solutions. Windstream has long-term trusted billing relationships with more than one million customers across the US, which we see as an attractive and rapidly addressable market for smart home security.
“As wired phone lines and VOIP systems have faded in popularity with the proliferation of cellular phones, telecommunication companies have an opportunity to secure new revenue streams in new product categories that enhance the core.
“That is what we intend to do with this partnership and there is evidence in the market that this strategy is a winning proposition. Home Security and smart home solutions are a natural extension of the connectivity already being provided Windstream. With Windstream coming on board as a strong partner in the telecommunications industry, we continue to see a positive outlook for growth as our value proposition gains recognition across a broad range of industry sectors beyond home security.”
Meanwhile, Scout Security Limited has received firm commitments to raise $3 million via the issue of 22.2 million million shares at $0.135 per share to sophisticated investors.
In addition, Scout plans to offer a Share Purchase Plan (SPP) to existing shareholders at the same price as the Placement to raise an additional $500,000 with the ability to accept a further $500,000 in over subscriptions.
Scout Security Limited is an Australia-based company, which is engaged in developing a self-installed, wireless home security system that is controlled through a user’s smartphone. The Company designs, manufactures and sells a blend of security hardware for home security.
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