Stredia signs technology exchange agreement
OMAGH-based Stredia has signed a £500,000 technology exchange agreement with a US company to provide stress-reducing software for individuals in the workplace. The breakthrough agreement is with the Logisens Corporation of Fort Collins, Colorado, and follows the company's participation in a Northern Ireland Chamber of Commerce and Industry (NICCI) trade mission to Denver.
Logisens will incorporate Stredia's innovative risk-management software into its US offering, while Stredia will introduce the Logisens technology into its portfolio for the British and Irish markets.
Geoff Thomas, Stredia director, said, "Logisens has exclusive technology that complements our capabilities. Its unique combination of a patented biosensor mouse and high-retention training methodology is set to revolutionise how companies address stress in the workplace.
"Individuals can monitor their stress in real time and see immediately how the training helps reduce it. Buyers at exhibitions in Aberdeen, Stirling and Birmingham have been amazed by what it can do," he added.
Mr Thomas formed the company with fellow director Gerard O'Hanlon in 2004. Since Stredia software is designed to manage the risk of stress over the longer term, Mr Thomas says the company has been looking for technology that could help customers in the short term. It found it at Logisens.
"The new combination now provides customers with a full management package, accessible through a single website.
"We have been in discussion with the Logisens Corporation for a number of months and are delighted that the mutually beneficial deal has been arranged," he said.
The NICCI mission was backed by Invest NI under the Passport to Export programme.
Stredia's success was welcomed by Frank Hewitt, NICCI chief executive, and Alan Hingston, Invest NI's trade director.
"Stredia's contract in Colorado shows how smaller Northern Ireland companies can use the financial and other practical support to reach new customers and win significant export business. It shows that an innovative Northern Ireland company can compete successfully in the world's most demanding technology markets."
Mr Hingston added, "Stredia and other companies which have taken part in missions to Colorado and neighbouring states are benefiting from the advice, market knowledge and support provided by our Technology and Development Centre in Denver. The centre has a longstanding track record of success in helping Northern Ireland companies to develop a firm footing in the region."
Stredia was formed to develop and exploit an online system for identifying where organisations should target their resources. Stredia's solution is directed at improving productivity in the work place and reduce workplace stress, a significant drain on modern companies.
"In the UK stress, depression and anxiety cause some £13 billion of costs through lost productivity and ill health. Reducing the losses associated with this 'modern industrial disease' offers organisations the opportunity to reduce costs, prevent litigation and improve productivity," Mr Thomas said.
