Transense signs Saudi Arabia deal

Shares in Transense Technologies rose on Friday 15 June after the sensor systems maker announced its trading division secured a strategic distribution deal with a Saudi group. The group told investors that its IntelliSAW business, a provider of wireless sensor systems for smart grid applications, has entered into a strategic distribution agreement with the energy projects and services division of Saudi Arabia’s Al Mashariq Trading and Contracting Co. The company also makes systems and tools for use in tyre TPMS and RFID applications.

Al Mashariq is a construction and project management company in the utilities market, and its energy projects and services division is focused on the power generation, distribution, protection and control fields of medium voltage networks for customers in the oil and gas, utility and industrial markets.