Contract Wins

RNS Number : 4824R

Redcentric PLC

28 October 2013

 

28 October 2013

Redcentric plc

("Redcentric" or "the Company")

Contract Wins

Redcentric plc (AIM:RCN.L), a leading end to end managed service provider delivering innovative technology to improve business productivity and efficiency, is pleased to announce an extension of a managed service contract with a property developer first announced on 27^th June 2013, and a new ICT project and maintenance contract win with a leading media business.

The managed service contract was originally valued at approximately £4.7 million of revenue over the course of the three-year contract. The contract term has now been extended for a further two years increasing the value of the total contract by a further £3 million. The contract is now expected to be worth approximately £7.7 million of revenue over the course of five years.

As reported previously, Redcentric's consultancy services will form a key part of transitioning the customer to its new services. While most of this revenue will fall outside of the current financial year this type of contract will contribute significantly to Redcentric's growing annuity base and validates the quality and breadth of its end-to-end services.

In a separate deal, Redcentric has won an ICT project and maintenance contract with a leading media business. The deal will see Redcentric provide hardware installation and consultancy as well as support over three years in a deal worth approximately £0.94m over the course of the contract.

Fraser Fisher, Chief Operating Officer, commented, "It is extremely pleasing to announce the significant extension of  an important  contract at such an early stage in the initial contract period, as well as another new three year contract. Redcentric's consultancy services have been crucial to both wins and these multi-year contracts are a testimony to the high level of service provided by Redcentric and the faith our customers have in our long term ability to deliver their mission-critical services."

Enquiries:

Redcentric plc Tony Weaver, Chief Executive	Tel. [phone]
N+1 Singer - Nomad & Joint Broker	Tel: [phone]
Jonny Franklin-Adams / Jenny Wyllie
finnCap - Joint Broker	Tel: [phone]
Charlotte Stranner / Stuart Andrews
MXC Capital Advisory LLP Marc Young	Tel. [phone]
Newgate Threadneedle Josh Royston / Hilary Millar	Tel. [phone]

 

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