Security product manufacturer Micro Technologies India today said it has entered into a deal with PetroNET for selling its gadgets in Israel.
The company has signed an agreement with Israel-based PetroNET and targets to achieve business worth $5 million (about Rs 23 crore) within the next two years, Micro Technologies said in a statement to the Bombay Stock Exchange (BSE).
Under the agreement, PetroNET Wet Stock Management would offer sale and related support to Micro Technologies for its products.
"This association will strategically operate in Israeli market and will soon open more avenues and good business prospects in a newer market," Micro Technologies added.
Shares of Micro Technologies were trading at Rs 148, up 0.34 per cent in the afternoon trade on the BSE.