Serial System, a company listed on the Main Board of the Singapore stock exchange and headquartered in Singapore, has been appointed by Fingerprint Cards AB (FPC) as its strategic distributor in Southeast-Asia and India. In conjunction with the agreement, Serial System placed an order with FPC worth SEK 3.6 M.
Serial System, a company listed on the Main Board of the Singapore stock exchange and headquartered in Singapore, has been appointed by Fingerprint Cards AB (FPC) as its strategic distributor in Southeast-Asia and India. In conjunction with the agreement, Serial System placed an order with FPC worth SEK 3.6 M.
Having already recently signed a distribution agreement Serial System in the China market where Serial System has 30 offices, FPC is pleased to announce an additional engagement with Serial System in South East Asia and India. Serial System having 17 offices and 110 employees in India, Malaysia, Vietnam, Singapore, Thailand, Indonesia and the Philippines, has now also been designated the distributor for Southeast Asia and India. Serial System, which reported an average compound annual growth rate (CAGR) of 26 percent for the past five years, has more than 720 employees and is a leading distributor in most Asian countries. In addition to Serial System's extensive distribution channels, the company will offer support and develop customized solutions, which will both facilitate integration and expedite delivery times of total solutions for end consumers.
To support the demand for FPC's products and solutions in major regions of Southeast Asia and India, as well as offer customers short delivery times, Serial System has placed an order for FPC's area sensor, FPC1011F, valued at SEK 3.6 M. The sensors are to be delivered in the third quarter of 2011. Johan Carlstrom, President and CEO of FPC comments: “We are pleased to be increasing our co-operation with Serial System to include Southeast Asia and India. Serial System is a well-known distributor growing at 17 percent faster than the market and has had an average annual growth rate of 26 percent in the past five years. We are confident that Serial System will quickly generate new business in the region.”
Dr. Derek Goh, Executive Chairman and CEO of Serial System comments: “We are very pleased to have been appointed the new distributor of Fingerprint Cards. Southeast Asia and India are rapidly growing markets and accounted for 13 percent of Serial System's sales in 2010, and we will continue to support, focus on and invest in the region to expand FPC's business. We will be offering our customers an even wider range of products as a result of this partnership.”