Quantify shares surge 63% on Harvey Norman deal

Bentley-based Quantify Technology Holdings has entered into a three-year agreement with Harvey Norman’s commercial division, which will see the franchise become the company’s exclusive distributor in the eastern states.

Shares in Quantify were trading as high as 1.3 cents each at 10.30amAEST, up 62.5 per cent from its previous close of 0.8 cents.

Under the agreement, Harvey Norman has committed to a $500,000 stock order for the next six months, which bring Quantify Technology’s outstanding purchase orders to a total of $1.2 million.

Quantify primarily develops hardware and software devices that enable the monitoring and management of the next generation of internet-enabled devices such as lighting, power, heating and cooling systems that are installed in buildings.

Quantify chief executive Brett Savill said the company was pleased to have Harvey Norman as its exclusive stockist for the eastern states.

“With an extensive network of large-scale customers including developers, builders and architects, the Harvey Norman commercial division team are ideally placed to deliver significant B2B sales,” he said.