Announcement
Crimson Tide PLC : Significant contract win
RNS Number : 3078Z
Crimson Tide PLC
17 September 2015
Crimson Tide plc
("Crimson Tide" or "the Company")
Significant contract win
Crimson Tide announces that it has entered into a landmark contract for its mpro5 solution with one of the country's leading retailers. The contracted revenue is expected to amount to approximately £1.1m over the 36 month term. The rollout is anticipated to commence by the end of this year and invoicing will build during the deployment process which is expected to be fully completed during the first half of 2016.
The mpro5 solution has been successfully piloted over a substantial period with this client and has validated a unique use of mpro5 in management of insurance claims and retail store safety. mpro5 has been developed as a 'mobility as a service' platform, which is now used in a range of vertical markets including retail, facilities management, logistics and healthcare. In addition to the mpro5 software, the solution includes a mobile device, powerful website and integration with third party systems. mpro5 is hosted in the cloud on Microsoft Azure, giving world class reliability and security as well as a global footprint.
Barrie Whipp, Executive Chairman, commented "Our team has worked tirelessly over an extended period to achieve this landmark contract, which we expect to significantly impact revenues and profitability from early next year. We believe that the solution has further potential both with this client and with other retailers nationally and internationally. The impact of this transaction will transform the way we address further opportunities and is an endorsement of mpro5's power and versatility"
For further information, please contact:
Crimson Tide plc
Barrie Whipp 01892 542444
W.H. Ireland Limited
James Joyce / 020 7220 1666
James Bavister
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTLFMRTMBBBBJA
;