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Connexion signs agreement with automotive giant Continental
- Published October 07, 2014 11:40AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
6 October 2014, Frankfurt, Germany: Connexion Media Limited (ASX: CXZ), an innovator in the connected car market, has signed an agreement with German automotive group Continental Aktiengesellschaft for the supply of radio and music content.
The deal is the first signed by Connexion with a Tier 1 automotive supplier and is expected to provide a platform for the company to pursue direct deals with other third party vehicle manufacturers.
Continental’s Interior division will integrate the miRoamer radio and music service in its state of the art infotainment hardware systems that are expected to be sold to a number of automotive manufacturers worldwide.
Commercial terms have been agreed between the two parties and remain confidential. Connexion will receive revenues based on Continental cementing distribution agreements and shipping the miRoamer service to its automotive manufacturer customers.
The agreement includes an archiving provision for up to 15 years from the date the final miRoamer-enabled production vehicle is shipped.
“Continental is one of the household names of the automotive industry and this deal is an excellent platform opportunity for Connexion,” said Connexion Media CEO and managing director George Parthimos.
“It is further validation that we provide among the world’s best web connected vehicle audio technologies.”
Continental is one of the world’s largest automotive suppliers with sales over €33 billion in 2013 and 186,000 employees across 49 countries. As well as interior products such as infotainment and security the group manufactures brake systems, components for powertrains and chassis, instrumentation and tyres.
CONTACT
George Parthimos
CEO & Managing Director
Connexion Media Limited
0401 616 433
[email protected]
About Continental
Continental Aktiengesellschaft was founded in Hanover, Germany in 1871 manufacturing soft rubber products, rubberised fabrics and solid tyres for carriages and bicycles. It has since grown into one of the top five automotive suppliers worldwide with 186,000 employees across 49 countries. The company is comprised of five divisions including Chassis & Safety, Powertrain, Interior, Tyres and Contitech.
About Connexion Media
Connexion Media Ltd (ASX:CXZ) is a technology company specialising in developing and commercialising software apps and services for the web connected car, mobile device and connected consumer electronics markets. It is based in Melbourne Australia, with a sales office in Cambridge UK. www.connexionmedia.com.au
About miRoamer
miRoamer is a category-leading digital media platform for vastly improved internet radio and music entertainment. It can be installed in a variety of consumer electronics including car radios, smart phones, gaming consoles, televisions and stereo systems. Users get media content from a common platform using as many electronic devices as they wish. miRoamer enables access to favourite content providers and stations as well as customisingthe access. miRoamer is licensed by some of the world’s big and prestigious automotive and consumer electronics companies. www.miroamer.com
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