Gloucestershire technology training company Pennant International has entered into an original equipment manufacturer (OEM) agreement with US computer software firm Siemens Digital Industries Software.
Under the terms of the deal, Siemens will be a global OEM partner, using Pennant's GenS tech to expand its software solutions, the company said on Monday (July 14).
The Cheltenham-based firm has also appointed Win-Tek and Eva Aviation as sales representatives in South Korea and Japan - new territories for Pennant. It is understood the negotiation of further potential appointments is continuing, including prospective agents in India.
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AIM-listed Pennant said on Monday it had also entered into a collaboration agreement with German software firm Warp IT to explore product integration and other opportunities.
Work is already underway, with Pennant and Warp IT expecting to making a joint proposal to meet known customer requirements later this year.
All of the agreements have been entered into on a non-exclusive basis allowing Pennant to continue to sell its software both directly and indirectly in any territory.
Phil Walker, group chief executive of Pennant, said: "I'm pleased to announce significant progress with the execution of our 'go-to-market' strategy for Auxilium.
"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."
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The announcement comes just days after Pennant confirmed it had completed the sale of its last two warehouses in Staverton for £1.125m.
The company has said it will continue to occupy the units on a leaseback basis after agreeing a five-year term, with a three-year 'tenant only' break clause. The annual rent is £95,000 (exclusive of VAT, utilities and related outgoings), the company said.