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Crimson Tide PLC (TIDE)

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Thursday 17 September, 2015

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        

 

 


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