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Zedcor Inc. Announces Expansion into Retail Security with MobileyeZ Service Agreement for a Leading North American Home Improvement Retailer
Calgary, Alberta--(Newsfile Corp. - September 27, 2023) - Zedcor Inc. (TSXV: ZDC) (the " Company ...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Inc. Announces Expansion into Retail Security with MobileyeZ Service Agreement for a Leading North American Home Improvement RetailerCalgary, Alberta--(Newsfile Corp. - September 27, 2023) - Zedcor Inc. (TSXV: ZDC) (the \"Company\" or \"Zedcor\") is pleased to announce that it has been awarded a rental and service agreement to provide MobileyeZ security towers for a leading North American home improvement retailer (the \"Customer\"). After a three-month pilot program which began in June 2023 with locations tested in Vancouver, Calgary and London, Ontario, our Customer has entered into a master rental services agreement (the \"Agreement\") with Zedcor to provide MobileyeZ security towers with 24/7 live, verified monitoring at numerous locations across Canada until September 2026. As of the start of the Agreement, Zedcor is providing MobileyeZ at ten locations and the Customer may expand the number of locations throughout the term of the Agreement. They may also expand the number of security towers per location. Based on our initial estimates, the Agreement is approximately $240,000 of annual revenue1 with the potential for expansion.Retail sector theft is a pervasive problem that poses significant challenges to the industry. In 2022, the National Retail Federation estimated that theft cost retailers approximately $112 billion across North America2. This is a significant issue which, based on our initial pilot with the Customer, Zedcor can help reduce with our MobileyeZ solution.Todd Ziniuk, President & CEO of Zedcor said: \"The retail sector is a major growth area for Zedcor and we plan to allocate significant resources in order to increase our presence in the space. Given the size of the problem the total addressable market size is very large, and we believe the MobileyeZ solution provides significant benefits, including cost reductions for our customers. Based on our pilot project, Zedcor was able to significantly reduce incidents at the three locations. Retail theft impacts everyone from consumers to small business owners and communities. Helping retailers reduce their losses due to theft aligns with our mission to improve the security and safety of communities we operate in. We are proud to offer our unique solution and tailor it to the needs of our Customer and look forward to growing our relationship with them.\"...