Pennant inks distribution deal with Siemens for new software roll-out
Pennant International Group PLC on Monday reported a partnership with Siemens Digital Industries Software, as it prepares to launch its Auxilium software.
The Cheltenham, England-based firm provides systems support, technical services and training, focused on the defence sector. Siemens Digital Industries Software is a subsidiary of Munich, Germany-based technology and automation firm Siemens AG.
Under the agreement, Pennant said, Siemens ‘will be a global OEM partner leveraging the group’s GenS technology’. OEM refers to original equipment manufacturing, while GenS is part of Pennant’s new software suite. The deal effectively licenses Siemens to distribute GenS through the equipment it manufactures.
Pennant noted similar distribution partnerships in other markets, namely Wintek Co Ltd and Fujitsu Ltd spinoff EvaAviation, based in South Korea and Tokyo, respectively. Both are new markets for Pennant, which said it is negotiating with more potential partners in India.
Pennant has agreed to work with another German firm, warp it AG, which makes specialist software for defence data analysis. Pennant and warp are currently exploring the option to combine their products into a single offering. The firms are eyeing a joint proposal later in 2025.
All deals so far are on a non-exclusive basis, Pennant noted, meaning it can still sell software in any territory.
‘I’m pleased to announce significant progress with the execution of our ’go-to-market’ strategy for Auxilium,’ commented Chief Executive Phil Walker.
‘We are excited to be actively working with our new partners, with each appointment providing opportunities to access new markets and territories, and we look forward to providing updates as the partnerships progress.’
Earlier in July, Pennant said it expects to meet full-year market expectations, with revenue weighted towards the second half, as it progresses the roll-out of Auxilium.
The firm’s shares rose 15% to 29.95 pence on Monday afternoon in London.
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