Crimson Tide (TIDE) , a specialist in providing mobile data solutions, announced on Tuesday that it had entered into a long-term contract for its mpro5 solution software with one of the UK’s leading retailers.
Mpro5 is a smart mobile working service aimed to improve the efficiency of staff working whilst capturing data for customers across their respective fields -- simultaneously, the mpro service offers companies an immediate return on their investment.
The contract, from an unnamed leading retailer, is for a minimum of £1.4m over a 36-month term.
Significantly, under the contract, the mpro5 platform will now be used in nearly 4,000 retail locations across the UK and Ireland alone, with the potential for international expansion offers.
The unnamed client had previously acquired a smaller contract containing hardware -- having reached its term, this will now be included on a SaaS only basis within the new contract.
Shares in Crimson Tide jumped over 13% following this morning’s news.
Due to the configurable nature of the mpro5 platform, the client has replaced some competitor’s internal systems and incorporated their requirements for Store Cleaning, Security, Catering, Distribution, Food Safety, and Safe & Legal compliance into the single mpro5 offering.
Barrie Whipp, Executive Chairman of Crimson Tide commented, "Our team has worked tirelessly over the contract term to demonstrate the unique nature of the mpro5 platform. Having gained visibility at C-level with this retailer, we are excited by the international potential for this client in future years.
He added further, “This contract is indicative of our enterprise-class pipeline that we have invested in strategically, and I am pleased that our unrivalled platform capability has given this client a significant return on investment with mpro5."
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