Jeffs' Brands KeepZone Subsidiary Agrees to Distribution Deal With Scanary

MT Newswires Live12-05 22:04

Jeffs' Brands (JFBR) said its KeepZone subsidiary has made a distribution agreement with Scanary, an Israeli developer of 3D imaging, electromagnetic, AI-powered threat detection systems.

KeepZone agreed to make a one-time $1 million payment in five monthly installments of $200,000, the company said.

Scanary will also provide one free demonstration unit and pre-sales technical support, the company.

KeepZone will also receive revenue payments of 10% of Scanary's profits from sales outside the exclusive territories, the company said.

Under the agreement, Scanary gives KeepZone the right to market and distribute its AI-radar screening systems capable of scanning 25,000 people per hour for weapons in open spaces.

The company said it maintains exclusive distribution rights in Canada, Germany, and the United Arab Emirates for an initial and renewable 24 months and non-exclusive distribution rights in Spain and Italy.

The company said the deal marks its entry into the homeland-security sector.

Shares of Jeffs' were up more than 40% in recent premarket activity.

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