Announcement
Altitude Group PLC : Partnership Agreement
RNS Number : 7737R
Altitude Group PLC
26 September 2017
26 September 2017
ALTITUDE GROUP PLC
(the "Company" or "Altitude")
Channl Partnership Agreement
Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products, is pleased to announce that it has enhanced and extended its partnership agreement with AI Mastermind ("AIM"), a leading buying group serving 1,400 promotional product resellers in the US. The highlights of the new agreement include:
· Altitude's comprehensive CRM and sales order management system being integrated with the Channl ecommerce platform enabling AIM's members to benefit from an industry specific, cloud based, end-to-end order management system
· the integrated system will allow both ecommerce and non-ecommerce transactions to be processed through Channl
· the platform will be provided to AIM for free with Altitude receiving a share of the throughput revenue from both ecommerce and non-ecommerce transactions
· active engagement with and education of AIM with respect to the benefits available to all stakeholders by using the Channl platform will incentivise AIM to roll out the Channl model to its 1,400 distributor members resulting in faster and more comprehensive take-up of Channl by end users
· the partnership agreement has been extended to September 2020
Since the initial partnership was announced in August 2016, Altitude has created over 950 Channl websites for the 1,400 AIM distributor members, each of whom are substantial distributors in the US with revenues ranging from an estimated $0.5 million to $3 million. In total the 1,400 AIM distributors account for an estimated $1.2 billion of end user revenue. The websites are ready to use and, while the 1,400 AIM members are aware of their existence and the potential of Channl's capabilities, the initial feedback from them was that it needed to be integrated with a powerful CRM and order management tool. The extension to the partnership announced today will add both of these to the existing Channl platform and AIM will be actively working with their members to ensure that they are educated as to Channl's improved capabilities and to ensure that they understand the benefits available to them by adopting the platform going forwards.
Peter Hallett, Executive Chairman of Altitude, commented: "We are delighted to have enhanced and extended our Channl partnership with AI Mastermind. This upgrade to the offering is the result of months of collaborative work and we are confident that this fully integrated platform will provide the end-to-end service required by the distributors and end users while at the same time providing the necessary incentives to ensure that all stakeholders benefit from encouraging engagement throughout the order chain.
Enquiries:
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Altitude Group plc Peter Hallett, Executive Chairman |
07887 987469 |
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finnCap ltd |
020 7220 0500 |
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Jonny Franklin-Adams (Corporate Finance) |
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Scott Mathieson (Corporate Finance) |
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Richard Chambers (Corporate broking) |
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The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
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