EXHIBIT 10.27

                               TEAMING AGREEMENT

                                    BETWEEN

                                 NUMEREX CORP.

                                      AND

                               TELEMONITOREO S.A.


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                               TEAMING AGREEMENT

THIS AGREEMENT made this 8th day of January, 1998

BETWEEN: Numerex Corp. (the "Company"), a Pennsylvania corporation, having its
         principal place of business at 100 Four Falls Corporate Center, Suite
         407, Route 23 and Woodmont Road, West Conshohocken, PA 19428-2961

AND:     TELEMONITOREO S.A., an Argentine Company, having its principal place of
         business at Sarmiento 385, Floor 5, Suite 80, Buenos Aires (1041),
         Argentina.

WHEREAS the parties hereto have signed a letter of intent (the "Letter of
Intent") whereby the Company has agreed to sell and Telemonitoreo has agreed to
buy certain Derived Channel networking equipment (the "Equipment") for
deployment in Argentina.

WHEREAS in the Letter of Intent, the parties have agreed to move forward with
the preparation and execution of a definitive teaming agreement.

NOW THEREFORE, WITNESSETH that, in consideration of the premises and the terms,
conditions and mutual covenants and agreements contained herein, and for other
good and valuable consideration the receipt and adequacy of which is hereby
acknowledged, the parties hereto agree as follows:

1.   DEFINITIONS

     1.1 The following terms used in this Agreement shall have the definitions
     assigned to them hereunder, unless the subject matter or context of this
     Agreement otherwise requires.

          1.1.1 "Agreement" shall mean this teaming agreement.

          1.1.2 "Derived Channel Connection" shall mean each port used in the
                scanner comprised in the Equipment provided by the Company and
                used by a Derived Channel Service provider.

          1.1.3 "Derived Channel Network" shall mean the message switches,
                scanners and other related equipment including software, used to
                provide alarm and other data over voice transport services,
                exclusive of subscriber terminal units ("STUs").


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          1.1.4 "Equipment" shall mean message switches, scanners and other
                related equipment, used to provide alarm and other data over
                voice services, exclusive of STUs, which form the Derived
                Channel Network.

          1.1.5 "Intellectual Property" the computer programs, documentation,
                the object code and the source code for the computer programs,
                the visual expressions, screen formats, report formats and other
                design features of the computer programs, all ideas, methods,
                algorithms, formulae and concepts used in developing and/or
                incorporated into the computer programs or documentation and all
                future modifications of the computer programs or documentation
                made by the Company and provided to or used by or for
                Telemonitoreo under this Agreement, and all copies of the
                foregoing provided to or used by or for Telemonitoreo under this
                Agreement.

          1.1.6 "STU" shall mean subscriber terminal unit, to be supplied by the
                Company or a licensed representative or an authorized dealer.

          1.1.7 "Distribution Agreement" shall mean the Distribution Agreement
                between The Company and Telemonitoreo S.A. dated March 11, 1997.

2.   REPRESENTATIONS, WARRANTIES AND OBLIGATIONS OF THE COMPANY

     2.1  The Company has full legal right and authority to enter into this
          Agreement.

     2.2  The Company hereby agrees to sell to Telemonitoreo the Equipment
          listed in Appendix 2.1 hereto.

     2.3  The Company hereby grants to Telemonitoreo an exclusive,
          non-transferable, paid up license to use the programs and the software
          (in object-code only) installed or comprised in the Equipment to be
          deployed in Argentina, which such license shall terminate at such time
          as the Company ceases to receive payments pursuant to Section 5
          hereof, or upon termination of this Agreement pursuant to Section 12
          hereof.

     2.4  The Company agrees to provide advice on matters related to sales and
          marketing activities.

     2.5  The Company shall provide, with regard to the Equipment, the warranty
          in the form set forth in the Distribution Agreement.

     2.6  The Company warrants that it is the rightful owner of the Equipment
          with the right to license the software and warrants that the Equipment
          is free and clear from any liens and encumbrances.


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     2.7  The Company agrees to provide software maintenance free of charge and
          hardware maintenance at a rate equal to fifty (50%) percent of its
          standard list pricing.

     2.8  The Company agrees to sell to Telemonitoreo STUs pursuant to the terms
          and conditions set forth in the Distribution Agreement.

3.   REPRESENTATIONS, WARRANTIES AND OBLIGATIONS OF TELEMONITOREO

     3.1  Telemonitoreo has the full legal right and authority to enter into
          this Agreement

     3.2  Telemonitoreo represents that it has the exclusive contractual right
          to provide Derived Channel Network services in Argentina on behalf of
          Telecom S.A. and Telefonica de Argentina S.A. and to directly receive
          monthly payments from each Derived Channel Connection in an amount in
          excess of US$ * per month.

     3.3  Telemonitoreo will be solely responsible for the installation,
          maintenance and customer service and support for the Derived Channel
          Network.

     3.4  It shall be the obligation of Telemonitoreo to provide sales and
          marketing support in connection with the Derived Channel Network.
          Telemonitoreo will be the primary supplier of support to TELECOM
          and/or Telefonica, and DCX will be the second line of support to
          TELECOM and/or Telefonica.

     3.5  Telemonitoreo agrees that all STUs used in the Derived Channel Network
          shall be purchased solely from the Company, its affiliates or
          authorized distributors.

     3.6  Telemonitoreo shall be responsible, at its cost and expense, for
          complying with all applicable laws and regulations in connection with
          the Agreement and the Derived Channel Network, including laws and
          regulations pertaining to (a) exports or imports of software and
          related property, (b) use or remote use of software and related
          property, or (c) registration of this Agreement. Telemonitoreo will
          defend, indemnify and hold harmless the Company (and its affiliates,
          and the respective directors, officers, employees and agents of the
          Company and its affiliates) from and against all actions, claims,
          damages or liabilities arising directly out of any violation by
          Telemonitoreo of any such laws or regulations. Telemonitoreo will have
          the sole right to control the defense thereof, but the Company will
          have the right to participate therein at its own cost and expense.

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*    Confidential information which has been omitted pursuant to Rule 24b-2
     under the Securities Exchange Act of 1934 and filed separately with the
     SEC.


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     3.7  The fees and other amounts payable by Telemonitoreo to the Company
          under this Agreement do not include any duties, charges or taxes of
          any jurisdiction that may be assessed or imposed including export and
          import duties and sales, use, excise, value added and personal
          property taxes, excluding only taxes based upon the Company's net
          income. Telemonitoreo will be responsible for and directly pay any
          such duties, charges and taxes (exclusive of those associated with
          Section 5 hereof), and Telemonitoreo will promptly reimburse the
          Company for any such taxes payable or collectable by the Company.

4.   ORDER, SUPPLY, PAYMENT OF EQUIPMENT AND AUDIT

     4.1  Telemonitoreo shall place an initial order (the "Initial Order") for
          not less than $1 Million of Equipment, not later than October 17,
          1997.

     4.2  The Company agrees to ship Equipment in connection with the Initial
          Order, on or before October 31, 1997.

     4.3  Telemonitoreo agrees to pay for the Equipment shipped pursuant to the
          Initial Order within 30 days of the earlier occurrence of the
          attainment of 360 subscribers or April 30, 1998.

     4.4  After receipt of payment in connection with the Initial Order the
          Company shall provide $1 Million (or such higher amount equal to the
          Initial Order) of additional Equipment, at no additional charge.

     4.5  In connection with all subsequent orders (the "Subsequent Orders") of
          Equipment, Telemonitoreo shall pay, within thirty (30) days of
          receipt, 50% of the standard list price, which shall be deemed payment
          in full for Equipment subject to the Subsequent Orders.

     4.6  The Company may, at its cost and expense and by giving at least three
          (3) business days' prior written notice to Telemonitoreo, enter
          Telemonitoreo's locations during normal business hours and audit
          Telemonitoreo's compliance with the provisions of this Agreement.

5.   PAYMENT TO THE COMPANY

     5.1  Telemonitoreo shall pay to the Company $ * per month, for each Derived
          Channel Connection, until the earlier of five (5) years from the date
          hereof, or the date upon which twenty thousand (20,000) Derived
          Channel Connections have been achieved.

----------
*    Confidential information which has been omitted pursuant to Rule 24b-2
     under the Securities Exchange Act of 1934 and filed separately with the
     SEC.


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     5.2  Upon the earlier of five (5) years from the date hereof, or the date
          upon which twenty thousand (20,000) Derived Channel Connections have
          been achieved, Telemonitoreo shall pay to the Company $ * per month,
          for each Derived Channel Connection.

     5.3  An accounting of Derived Channel Connections will be made on a monthly
          basis and Telemonitoreo shall pay to the Company all amounts due
          within 30 days of the end of each month.

6.   ASSIGNMENT

     6.1  This Agreement may not be assigned by either party without the prior
          written agreement of the other party.

7.   TITLE AND RISKS

     7.1  Title to the Equipment shall pass to Telemonitoreo upon delivery of
          the Equipment for which payment has been received by the Company.
          Telemonitoreo shall be deemed the owner of the remaining Equipment,
          which had been contributed free of charge and delivered by the Company
          once twenty thousand (20,000) Derived Channel Connections have been
          achieved and the Company has received payments pursuant to Sections
          5.1 and 5.2 hereof equal to the value of the Equipment contributed
          free of charge.

     7.2  Risk of loss or damage to the Equipment shall be assumed by
          Telemonitoreo upon delivery.

8.   RIGHT OF FIRST REFUSAL

     8.1  Before accepting an offer by a third party to acquire a controlling
          interest in the voting shares of Telemonitoreo or the assets of the
          Telemonitoreo, Telemonitoreo shall first offer the Company the right
          to acquire the portion of Telemonitoreo associated with providing
          Derived Channel Network services and the related customer base at a
          price (or other terms and conditions associated with the offer) equal
          to the value of portion of the offer associated with the Derived
          Channel Network services business, by sending a notice to that effect
          to the Company. Failure by the Company to accept such offer within 30
          days of the date of receipt of such notice shall constitute evidence
          of its rejection of such right of first refusal. Should Telemonitoreo
          sell the controlling interest during the life of this contract, the
          terms of this contract shall remain in force.

----------
*    Confidential information which has been omitted pursuant to Rule 24b-2
     under the Securities Exchange Act of 1934 and filed separately with the
     SEC.


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9.   THE COMPANY'S INTELLECTUAL PROPRIETARY

     9.1  Telemonitoreo acknowledges that the Intellectual Property which is not
          now or hereinafter becomes in the public domain in the manner used by
          or aggregated by the Company, are trade secrets and proprietary
          property of the Company, having substantial commercial value to the
          Company. Telemonitoreo acknowledges that the restrictions in this
          Agreement are reasonable and necessary to protect the Company's
          legitimate business interests. All of the Company's Intellectual
          Proprietary in Telemonitoreo's possession will be held in strict
          confidence by Telemonitoreo, and Telemonitoreo will take all steps
          reasonably necessary to preserve the confidentiality thereof.
          Telemonitoreo will not, directly or indirectly, communicate, publish,
          display, loan, give or otherwise disclose any such Intellectual
          Proprietary to any person, or permit any person to have access to or
          possession of such Intellectual Property, except for the purposes
          permitted under this Agreement.

     9.2  Telemonitoreo acknowledges that any breach of any of the provisions of
          this Section 9.1 will result in irreparable injury to the Company for
          which money damages could not adequately compensate. If there is a
          breach, the Company will be entitled, in addition to all other rights
          and remedies which the Company may have at law and equity, to have a
          decree of specific performance or an injunction issued requiring the
          breach to be cured (if curable) or enjoining all persons involved from
          continuing the breach. The existence of any claim or cause of action
          which Telemonitoreo or any other person may have against the Company
          will not constitute a defense or bar the enforcement of any of the
          provisions of this Section 9. Telemonitoreo acknowledges that the
          restrictions in this Agreement are reasonable and necessary to protect
          legitimate business interests of the Company. The Company will be
          liable for any breach of this Agreement by any of its employees or any
          other person who obtains access to or possession of any Company
          Proprietary Item.

10.  INSURANCE

     10.1 Telemonitoreo shall, at its sole cost and expense, procure, maintain
          and pay for and keep in force adequate (as determined by mutual
          agreement of Telemonitoreo and the Company) comprehensive general
          liability coverage on an occurrence basis for bodily injury and
          property damage. Such coverage shall include contractual, owners and
          contractors protective, products/completed operations, occurrence
          property damage, personal injury and contingent employer's liability
          endorsements, a cross liability clause, name the Company as an
          additional named insured and contain a severability of interests
          clause.


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11.  REGULATORY APPROVALS AND LICENSES

     1.   It shall be the obligation of Telemonitoreo to procure any and all
          regulatory approvals and licenses necessary in connection with the
          Equipment and the Derived Channel Network.

12.  TERMINATION AND THE EFFECT OF TERMINATION

     12.1 Telemonitoreo and the Company may terminate this Agreement by mutual
          consent.

     12.2 In the event Telemonitoreo becomes insolvent or bankrupt, the Company
          shall be entitled to terminate this Agreement.

     12.3 In the event that one of the parties to this Agreement is in material
          breach thereof, and such breach is not adequately remedied within
          thirty (30) days of receipt of written notice of the material breach,
          the non-breaching party shall be entitled to terminate the Agreement.

     12.4 The Company may terminate this Agreement should Telemonitoreo fail to
          make any payments due pursuant to Sections 4 and 5 hereof within 30
          days of their respective due date.

     12.5 In the case of termination of this Agreement the provisions of
          Sections 2.6, 3.2, 3.3, 3.4, 3.6, 3.7, 4.5, 4.6, 5, 6.1, 7, 9, 10, 11,
          13, 17, 21 and 22 as well as any other provision applicable to the
          implementation of such provisions shall survive termination of this
          Agreement for any reason, until by their terms they are no longer
          applicable.

     12.6 In the event of termination of this Agreement as provided in Section
          12.3, such termination shall be without prejudice to any rights that
          the terminating party may have against the breaching party or parties
          or any other person under the terms of this Agreement or otherwise.

13.  WARRANTY AND INDEMNIFICATION

     13.1 Neither party shall be liable to the other for any indirect,
          incidental, special, consequential or special damages arising out of
          or in connection with this Agreement even if notified of the
          possibility of such damages.

     13.2 Without prejudice to any other rights or remedies available to the
          Company, Telemonitoreo shall indemnify the Company against:

          (a)  all loss of or damage to any property belonging to the Company,
               to the extent arising as a result of any act or omission of
               Telemonitoreo, its


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               employees, agents, or subcontractors (or their employees or
               agents) in relation to performance of this Agreement;

          (b)  All claims and proceedings, damages, costs and expenses arising
               or incurred in respect of:

               (i)  Death or personal injury of any employee of Telemonitoreo or
                    any third party, its agents or subcontractors (or their
                    employees or agents) employed in or in connection with the
                    performance of this Agreement; or

               (ii) Death or personal injury to any other person to the extent
                    arising as a result of the acts or omissions of
                    Telemonitoreo, its employees, agents or subcontractors (or
                    their employees or agents) in relation to the performance or
                    associated with this Agreement; or

              (iii) Loss of or damage to any property to the extent arising as
                    a result of any act or omission of Telemonitoreo, its
                    employees, agents or subcontractors (or their employees or
                    agents) in relation to the performance, or associated with
                    this Agreement.

               (iv) any breach, violation, or non-performance of any condition,
                    covenant, obligation, representation or warranty of
                    Telemonitoreo in relation to this Agreement.

     13.3 Without prejudice to any other rights and remedies available to
          Telemonitoreo, the Company shall indemnify Telemonitoreo against:

          (a)  all loss of or damage to any property belonging to Telemonitoreo,
               to the extent arising as a result of any act or omission of the
               Company, its employees, agents, or subcontractors (or their
               employees or agents) in relation to performance of this
               Agreement;

          (b)  All claims and proceedings, damages, costs and expenses arising
               or incurred in respect of:

               (i)  Death or personal injury of any employee of Telemonitoreo or
                    any third party, its agents or subcontractors (or their
                    employees or agents) employed in or in connection with the
                    performance of this Agreement; or

               (ii) Death or personal injury to any other person to the extent
                    arising as a result of the acts or omissions of
                    Telemonitoreo, its employees, agents or subcontractors (or
                    their employees or agents) in relation to the performance or
                    associated with this Agreement; or


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               (iii) Loss of or damage to any property to the extent arising as
                    a result of any act or omission of Telemonitoreo, its
                    employees, agents or subcontractors (or their employees or
                    agents) in relation to the performance, or associated with
                    this Agreement.

               (iv) any breach, violation, or non-performance of any condition,
                    covenant, obligation, representation or warranty of the
                    Company in relation to this Agreement.

     13.4 EXCEPT AS EXPRESSLY STATED HEREIN, THE COMPANY MAKES NO
          REPRESENTATIONS OR WARRANTIES, ORAL OR WRITTEN, EXPRESS OR IMPLIED,
          INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A
          PARTICULAR PURPOSE, TO TELEMONITOREO REGARDING THE EQUIPMENT, STUs AND
          THE INTELLECTUAL PROPERTY, OR ANY OTHER MATTER PERTAINING TO THIS
          AGREEMENT.

14.  NOTICES

     14.1 The parties hereby agree that any notice, request, demand, consent,
          approval, correspondence or other communication required or permitted
          to be given hereunder, shall be in writing and be sent registered
          mail, telex, telegram, facsimile, or other agreeable electric means
          addressed as follows:

NUMEREX CORP.:                       TELEMONITOREO S.A.
John J. Reis, President and          Oscar M. Ghillione
Chief Executive Officer              President
NUMEREX CORP.                        TELEMONITOREO, S.A.
100 Four Falls Corporate Center      Sarmiento 385
Suite 407                            Piso 5, Oficina 80
Route 23 and Woodmont Road           Buenos Aires
West Conshohocken, PA 19428-2961     Argentina

copy to:

Barry H. Genkin, Esq.

BLANK ROME COMISKY
  & MCCAULEY
One Logan Square, 9th Floor
Philadelphia, PA 19103

15.  ENTIRE AGREEMENT

     15.1 This Agreement and the Appendices thereto contain the entire agreement
          between the parties hereto relating to the subject matter herein and
          supersedes any prior


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          agreements, obligations, statements, representations, understandings,
          communications and negotiations between the parties, whether oral or
          written, including the Letter of Intent. Except as otherwise provided
          in this Agreement, this Agreement shall bind the parties and the
          parties hereby agree that there are no terms and obligations,
          covenants, representations, statements or conditions, oral or written,
          other than those contained herein.

16.  SEVERANCE

     16.1 In the event any of the provisions of this Agreement are held to be
          illegal, invalid or unenforceable, any such provision shall, to the
          extent permitted by law, be severed and the remaining provisions of
          the Agreement remain in full force and effect.

17.  CONFIDENTIALITY

     17.1 It is anticipated that with respect to any matter related to this
          Agreement, it may be necessary for the parties to exchange
          "Confidential Information." Confidential Information is information of
          the parties or of their suppliers, whether written or in any other
          tangible form, or oral including, but not limited to, plans, drawings
          and information related to design, technical, performance, sales,
          financial, personnel, contractual and marketing matters, including
          contracts, ideas and concepts, as well as software, belonging to
          either of the parties or to their suppliers and which is provided in
          relation to this Agreement. Confidential Information shall remain the
          property of the disclosing party or of its suppliers as the case may
          be, and will be returned to the disclosing party upon written request
          together with all copies that could have been made, unless otherwise
          agreed upon in writing.

     17.2 Confidential Information shall be protected by the receiving party
          using the same degree of care as used to protect similar valuable
          information used and reproduced by the receiving party solely for the
          purposes of this Agreement and disclosed only to those persons having
          a need to know, who shall be made aware of the obligations hereunder.

18.  FORCE MAJEURE; EXCLUSION FOR UNAUTHORIZED ACTIONS

     18.1 Neither party shall be liable for any delay or failure to perform its
          obligations under this Agreement arising out of a cause beyond its
          control or without its fault or negligence. Such causes may include,
          but are not limited to, fires, floods, and natural disasters. This
          clause does not apply to the acquisition of Commercial or Government
          Licenses or Approvals.


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19.  AMENDMENT

     19.1 This Agreement shall not be modified, varied, amended, or supplemented
          except in a writing executed by both parties.

20.  TIME OF ESSENCE

     20.1 Time is of the essence in any matter relating to the performance of
          this Agreement.

21.  LAW AND DOMICILE

     21.1 This Agreement shall be governed by and construed in accordance with
          the internal laws (without giving effect to the conflict of laws
          principles thereto) of the Commonwealth of Pennsylvania.

22.  JURISDICTION AND SERVICE OF PROCESS

     22.1 Any action or proceedings seeking to enforce any term or provision of
          this Agreement, or based on any right arising out of this Agreement,
          may be instituted against a party only in the courts of the
          Commonwealth of Pennsylvania, or, if it can acquire jurisdiction, in
          the United States District Court for the Eastern District of
          Pennsylvania, and the parties irrevocably consent and submit to the
          exclusive jurisdiction of such courts (and of the appropriate
          appellate courts) in any such action or proceeding and waive any
          objection which they may now have or hereafter have to the laying of
          the venue of any such action or proceedings in such courts. Service of
          process, and any other notice of communication, in any such action or
          proceedings shall be effective against or as to a party if given by
          first class certified mail or registered mail, return receipt
          requested, or by any other means of mail which requires a signed
          receipt, postage prepaid, mailed to such party at the address to which
          such party is to be sent notices in accordance with the notice
          provisions of this Agreement, and the parties irrevocably consent to
          such service of process, giving of notices and transmission of
          communications. This section shall not diminish or otherwise affect
          the right of a party to serve process in any other matter permitted
          under applicable law.

IN WITNESS WHEREOF the parties hereto have, through their duly authorized
representative, executed this Agreement on this 8th day of January, 1998.


     NUMEREX CORP.                          TELEMONITOREO S.A.

     /s/ John J. Reis                       /s/ Oscar M. Ghillione
     ------------------------               -----------------------
     John J. Reis,                              Oscar M. Ghillione,
     President                                  President


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