Rams Aitech, a wholly-owned subsidiary of Ramssol Group Berhad (KLSE:RAMSSOL), has entered into a memorandum of agreement worth a total of 23.2 million ringgit with Linear Channel for the provision of AI software, device monitoring software and information technology equipment, according to a Wednesday filing to the Malaysian bourse.
The agreements include an equipment lease worth 4.6 million ringgit, a master reseller agreement for RAMS AI Solutions of 12.4 million ringgit and a software licence agreement for RAMS AI Device Monitoring worth 6.27 million ringgit, under Linear Channel's device-as-a-service program.
The agreements will run on a co-terminous basis for 36 consecutive months starting Sept. 2 and expiring on Sept. 1, 2029.
The collaboration provides Rams Aitech with a committed base of 10,000 subscription seats, with about 2,000 new devices expected to be provided by the latter and the remaining 8,000 seats deployed on devices already owned by Linear Channel.
Under the pact, Linear Channel will pay Rams Aitech a minimum monthly charge of 343,200 ringgits for the 10,000-seat commitment, regardless of the actual number of seats activated or deployed. Additional seats above the committed base will be charged at 34.32 ringgits per seat per month.