Trek 2000 International has entered into a sales and purchase agreement (SPA) with Starsway Memory worth US$10 million ($13.43 million) to supply a full suite of Internet of Things (IoT) enabled digital storage solutions for one year.
In a filing to SGX dated March 15, Trek 2000 says it will supply its full range of IoT Memory modules for integration with secure digital (SD), mass storage device (MSD), universal serial bus (USB) and solid state drives (SSD) interfaces.
Powered by Trek’s proprietary chipset controllers, the NAND Flash digital storage modules supplied to Starsway will support applications surrounding the Internet-of-Things.
The filing states that Starsway is a leading digital storage device OEM/ODM manufacturer based in Shenzhen, China.
Huang Yang, director of Starsway, says that the company is excited to collaborate with a like-minded company.
“We look forward to harnessing the power of Trek’s modules within our products, and we believe that there will be many new opportunities for collaboration as demand for IoT-enabled storage solutions continue to increase,” he says.
MK Kuan, president, sales B2C of Trek 2000 says that the contract win bears testament to the value of Trek 2000’s digital storage solutions.
“We are pleased to have the endorsement and support of Starsway as they integrate our cutting-edge IoT modules within their digital storage products. We look forward to working together with Starsway to optimize the compatibility of our products with theirs while bringing more innovative solutions to the market to enhance the user experience,” he says.
Shares in Trek 2000 closed down 0.1 cents or 0.94% lower at 10.5 cents on March 15.
