4th Mar 2020 09:49
(Alliance News) - Alfa Financial Software Holdings PLC on Wednesday said it secured a contract with a "fast-growing" US automotive firm.
Alfa Financial, a software developer for the asset finance industry, said revenue from the agreement has already been factored into its earnings estimates for 2020.
Alfa Financial said: "This agreement is based on the pre-configured Alfa Start proposition to implement in the UK, Europe, the US and Canada, and will be delivered via a highly streamlined deployment of Alfa Systems, over a short timeframe with cloud hosting, licence and maintenance bundled into a monthly subscription billing model.
"We expect this to be in the lower tier by contract value relative to other Alfa implementations."
Alfa did not disclose any financial details related to the contract.
Chief Executive Andrew Denton added: "We are delighted to win this contract with one of the most recognisable and progressive automotive manufacturers in the world. Our new customer has impressive growth plans and we are delighted that Alfa Systems has been selected to support their asset financing requirements. The project is deliberately compact in size but of strategic significance. This contract win demonstrates that Alfa Start is a compelling offering to customers across our target markets in Europe and North America."
Shares in the company were 1.8% higher at 86.50 pence each in London on Wednesday morning.
By Eric Cunha; [email protected]
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