Announcement
Crimson Tide PLC : Significant long term contract win
RNS Number : 4017M
Crimson Tide PLC
13 October 2016
Crimson Tide PLC
("Crimson Tide" or the 'Company')
Significant long term contract win with large UK retailer
Crimson Tide ﴾TIDE﴿, the AIM‐quoted provider of mpro5 ‐ Smart Mobility as a Service, has signed its most significant long term contract with a large UK retailer. Its mpro5 service will be used to ensure store safety, cleanliness and security. This deployment follows a successfully executed pilot.
The contract value is worth over £1.7m of additional revenue over an initial term of 48 months, the largest gross revenue contract in the Company's history.
This extended roll out involves implementing the mobility platform to almost 500 stores to enable the scheduling of regular cleaning, reactive cleaning and incident capture; as well as providing dynamic audits and bespoke management dashboards.
Barrie Whipp, Executive Chairman of Crimson Tide, said: "This landmark contract is the largest in our history in terms of value and means that mpro5 will be present in nearly 500 more locations throughout the UK. The four-year term represents validation of the partnership we have quickly formed with this well-known retailer. The contract represents another cornerstone of our enterprise level agreement strategy, which now represents a substantial element of our contracted revenues for the coming years
Following this contract win we are accelerating other expansion plans, both in the UK and overseas. The Directors are extremely pleased with this long term contract, which is the culmination of a great deal of work by our team. We are very excited indeed about the future prospects of the Company and look forward to pushing ahead with further opportunities."
For further information:
Crimson Tide plc
Barrie Whipp/Steve Goodwin 01892 542 444
WH Ireland
James Joyce /James Bavister 020 7220 1666
Notes to editors
1. Founded in 1996 and quoted on AIM since 2006, Crimson Tide plc is the provider of mpro5 ‐ Smart Mobility as a Service (SMaaS). mpro5 is delivered on smartphones, tablets and PDAs, and enables companies to transform their businesses and strengthen their workforces.
2. Crimson Tide offers a global service, working with some of the world's leading companies, tailoring mpro5 to suit customer needs. Developed over 10 years by its world‐class team, mpro5 is the smart choice for organisations large and small that want to improve productivity and save money.
3. mpro5 is a platform‐agnostic mobility suite fully hosted on Microsoft Azure, so customers are quickly up and running and the service is scalable and robust. It is provided on subscription, so clients can immediately see a return on their investment.
4. mpro5 not only helps people improve their day‐to‐day working methods while saving employers money, it also saves lives, by enabling haemophilia patients to verify the safety of their medication before use. mpro5 clients come from a diverse range of industries allowing the Company to listen, share and find the best solution for all mobility needs.
This information is provided by RNS
The company news service from the London Stock Exchange
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