TZL’s new CEO Mario Vecchio wants TZL to capitalise on its software technology and focus on becoming a software provider as it opens up third party access and expands to global markets. TZ owns a range of proprietary smart locks, built with its patented digital locking technology that allows customers around the world 24/7 access to parcel lockers, offices, data centres and more without the need for keys.
But new CEO Mario Vecchio has now laid out a plan that would pivot the company’s focus away from being a smart locker manufacturer to becoming a technology provider.
The new focus will ensure TZ capitalises on the recurring revenue opportunity presented by its software assets, as it looks to capture a larger share of the rapidly growing global IoT devices market that’s expected to explode to US$1 trillion within 10 years.
New CEO Mario Vecchio will be holding an investor briefing on Tuesday 26 October 2021 at 11am to discuss the strategic transition and how this sets TZ up for revenue expansion and growth. Click here to book.