VANCOUVER, B.C., Canada — Patriot One Technologies (OTCQX: PTOTF) has entered into a binding reseller agreement with West Virginia-based Cramer Security & Investigations to distribute the company’s PATSCAN VRS commercial units.
Since 2003, Cramer Security has been servicing clients in the mid-Atlantic region as a security systems integrator and provider of guarding personnel. The company has been engaged with Patriot One for more than two years and was part of its pilot program earlier this year.
The agreement is for an initial 5-year term, plus Cramer Security has acquired an initial 3-year lease of the solution as a first-phase approach to deploying the PATSCAN multisensor covert threat detection platform across a broad range of its end customers.
The agreement requires Cramer Security to deploy at least 150 PATSCAN VRS systems, including associated software license, maintenance and support, according to an announcement. Provided the minimum yearly commitment is met, the agreement represents a value of $4.7 million over the 3-year lease period.
The agreement includes minimum yearly sales requirements in order for Cramer Security to maintain its system pricing equal to 50 systems in the first year; no less than 100 systems by the end of the second year; and no less than 150 systems by the end of the third year.
This initial PATSCAN VRS commercial deployment effort follows successful pilots and product demonstrations at client sites, as well as at ISC West 2019, the announcement states.
“Cramer Security has long been a supporter of Patriot One and its mission to provide innovative threat detection and counter-terrorism solutions for safer communities,” saus David Utt, vice president of Cramer Security. “Adding PATSCAN solutions to our current and future clients’ security technology infrastructure will enable our 500+ officers to better protect their customers, employees and properties from the horrific terrorist and lone actor attacks our communities are witnessing.”
The pact with Cramer Security marks a major milestone for Patriot One as it transitions from development of its proprietary technology to deployment, explains Martin Cronin, CEO and president, Patriot One Technologies.
“[Cramer Security has] been unswerving in their support as we work to successfully deliver our PATSCAN VRS solution to the marketplace,” he says. “We look forward to working with their engineers and installers to deliver our systems into the marketplace quickly and effectively.”
