OMNIQ Corp, a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, has received an approximately $6.8 million purchase agreement from one of the largest specialty retailers in the US, which generates over $2 billion in annual revenue.
The agreement calls for the supply of mobile computerised IoT equipment designed to support retail automation and inventory control applications, as well as DC supply chain solutions and a growing e-commerce business, the company said in a release.
OMINQ’s customer is a pioneer in implementing the newest technologies in retail and supply chain operations managing hundreds of stores across 49 states. From its Salt Lake City facility, OMNIQ will commission and distribute advanced mobile computerised solutions including tested hardware and software, technical support, and warranty services, enabling the customer to enjoy the most technically advanced equipment combined with OMNIQ’s high quality managed services and support.
Quest President & CEO Shai Lustgarten said, “This marks a strong beginning of FY 2021 and demonstrates the strength of our business model based on the quality of our solutions with the solid loyal customer base that includes fortune 500 customers and others.”
“It also highlights how Covid-19 has accelerated the need to maximize efficiency, automation and touchless Supply Chain activities,” he added.
OMNIQ Corp. provides computerised and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management and access control applications.
Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad. The company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023.
