Palantir Renews WesTrac Partnership For Five Years

Palantir Technologies Inc PLTR and WesTrac Pty Ltd have entered into a multi-year enterprise expansion of their partnership. The financial terms were not disclosed.

WesTrac, one of the largest Caterpillar Inc CAT dealers, provides heavy mobile equipment and aftermarket services to the Australian mining and construction sectors.

WesTrac anticipates the five-year expansion of its partnership with Palantir to enhance ROI and enable more data-driven decisions. 

The extended partnership, which first began in 2021, will focus on deploying Foundry across core operations. 

Palantir's Foundry operating system is being used to help increase the throughput of WesTrac's Component Rebuild Centre at its headquarters in Perth Western Australia.

"The suite of software in Foundry help front-line Component Rebuild Centre & Inventory Teams improve overall efficiency and customer delivery," said Ashwin Rajan, Head of Commercial for Australia at Palantir.

In addition to Foundry, WesTrac plans to explore AI solutions leveraging a suite of software, including Palantir's new Artificial Intelligence Platform (AIP). 

Price Action: PLTR shares are trading higher by 2.62% at $19.20 in premarket on the last check Friday.