Listed retail technology provider Provenco has signed a distribution deal with computing giant IBM.
Provenco chief executive David Ritchie said the company's Vantex Technology Distribution subsidiary would become the first official distributor of IBM point-of-sale equipment in New Zealand.
"It's really just an indication of the reputation that Vantex is
building as expertise, knowledge and an ability to provide fantastic service and, therefore, we get the large international brands coming and asking us to represent them," Ritchie said.
However, Vantex was already looking for opportunities to expand geographically as well in the product line.
Vantex imports and distributes retail and logistics technology in Australasia, and accounts for just under half of Provenco's total revenue.
The IBM point-of-sale technology Vantex will distribute includes touch-screen terminals, printers and kiosks.
Vantex was formed by the purchase of Auckland-based Transtech Distributors in 2003 and Australian firms Javelin Systems and Vantex last year.
Ritchie did not comment on how much the IBM deal might yield financially other than to say it would be significant as "IBM is big as it gets".
IBM had provided point-of-sale products for 30 years and had more than 2.2 million systems installed in more than 100 countries.
Julia Romaniotis, retail store solutions executive for IBM Australia and New Zealand, said the deal gave IBM the chance to make contact with more resellers and boost business locally.
Provenco's share price closed up 1c to 91c yesterday.
