Scoop.co.nz, which calls itself New Zealand’s leading news resource for newsmakers, has reported on the business side of PartsTrader winning a contract with State Farm to introduce its online parts trading platform to U.S. collision repairers.
The report, dated June 22, 2012, says the contract is a five-year deal that “would see PartsTrader’s online trading platform used to source car parts in four U.S. states by early next year.” The online news source also says PartsTrader will add roughly 45 employees in New Zealand and the U.S. as a result of the deal.
The report called PartsTrader’s U.S. contract its “first big overseas break, though its value will depend on the volume of car parts ordered.”
Scoop.co.nz quoted PartsTrader CEO Rob Cooper as saying the contract was a big coup for the New Zealand technology sector. “All product development is carried out in Wellington (New Zealand) using a highly talented team. If successful, the business will generate a healthy profit, and most of it will flow back to our New Zealand investors,” Cooper told Scoop.co.nz.