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Elstat Ltd Press Release

Updated: Jul 9, 2020

Preston, 7th of July 2020

Andy McCool, newly appointed Managing Director of Elstat Ltd announced on behalf of the Board:

"the last 18 months have been critical in the evolution of our business. Refocusing on our core competencies and identifying the requirements of the market we agreed to transfer the Nexo Software and Analytics division including the Nexo Discovery platform to a new entity – assets 365 Ltd. The transfer of the division allows us to focus all of our energy and knowledge towards the development of high class hardware featuring a variety of connectivity options to support companies and the evolving data strategies. All existing customers of Nexo Discovery will be supported by assets 365.

Moving forwards elstat will focus on providing simple, reliable hardware quickly and competitively. elstat will be delivering new hardware to the market in Q4 2020 to refresh our unconnected hardware portfolio. Also with connectivity becoming an essential vehicle to facilitate decision making and cost optimisation within cold drinks sales organisations, we have just launched ems3000 series, a new portfolio of connected, platform agnostic devices. With several retrofit options in development we are confident elstat will have a hardware solution to suit various budgets and business requirements.

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