(Yicai Global) Feb. 26 -- Transfar Zhilian Co. has partnered electronic security firm Hangzhou Hikvision Digital Technology Co. to advance the smart logistics sector with the Internet of Things and Big Data.

Under the agreement, Zhejiang-based Transfar will use Internet of Things technology developed by Hikvision, which is based in the same province, to visually monitor depots and drivers to guarantee the safety of goods in transit, the logistics company said in a statement.

The partnership will exploit Transfar's strengths in logistics and finance and leverage Hikvision's experience in smart hardware and Big Data, Transfar said, adding that the deal will advance innovative applications of modern logistics and other emerging industries.

Hikvision has held the largest share of the global video surveillance market for several years running, and has 33 overseas branches as well as research institutes in Montreal and Silicon Valley.

The duo will also work on logistics park management, unmanned warehousing, supply chain financing and Big Data in logistics, the statement said. The pair will set up a joint venture to handle physical operations once the new businesses mature.

Transfar teamed up with Royal Dutch Shell Plc, the world's biggest petroleum company, to make its first foray into the gas and oil sector in December, a week after announcing plans to enter the new-energy vehicle sector and develop green delivery trucks.