RNS Number : 5668D
Crimson Tide PLC
27 June 2019
Crimson Tide plc
("Crimson Tide" or "the Company")
Contract Wins and New Partnerships
Crimson Tide is pleased to report a number of contract wins for its mpro5 platform as well as new partnership agreements.
In the Middle East, the Company has won an mpro5 contract through their newly appointed partner Dcode. The contract is for one of the leading waste management companies operating in the region and provides a solid platform to build out a stronger presence in 2020. It is expected that the deployment will extend to several hundred users during the course of the next 12 months.
Crimson Tide is in the process of finalising a contract with Compass Group in Denmark. This promises to be the first of several countries rolling out mpro5 for Compass Group, where the Company aims to expand its footprint across the group. Compass currently operates in 45 countries.
On the subject of Internet of Things (IoT), the Company is excited by its partnership with KoolZone, experts in IoT monitoring across a number of sectors. Integrating KoolZone's extensive suite of sensors into mpro5 strengthens and broadens the unique offering in the IoT market of directing workflow as a result of sensor readings. KoolZone have expanded the catalogue of sensors available within mpro5 and their expertise enhances Crimson Tide's ability to match the best sensors with each mpro5 IoT opportunity.
Crimson Tide has won a contract for an innovative pilot in Ireland with a local county council utilising both mpro5's IoT and mobile workflow features. This appears to be one of the first of its kind in this market sector and whilst it is too early to estimate the longer-term impact, there is a significant need to automate much of the paperwork and processes in this sector.
A new contract has been signed with Interserve for three years. The group has been a loyal customer for many years and uses mpro5 to deliver industrial cleaning and security auditing across a multitude of large customers such as the BBC, Sainsbury's and the NHS.
Barrie Whipp, Executive Chairman, commented:
"The sales strategy implemented at the end of 2018 is bearing fruit in what readers will understand is a market with uncertainties. Our ability to grow our long term contracted revenues demonstrates how robust our model is. I reiterate my confidence in the sales growth strategy that commenced in 2018"
Crimson Tide plc
Barrie Whipp / Luke Jeffrey
John Llewellyn-Lloyd / Dan Gee-Summons
020 7614 5900
For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/
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