29th Jan 2015 09:09
LONDON (Alliance News) - Innovation Group PLC Thursday said it had won new business process services contracts potentially worth about USD9.5 million in total over the next three years in both the property and motor divisions of its North American business.
Driven Solutions, the newly acquired road-side services business in its motor unit, has won a deal with a Canadian financial institution for emergency roadside services. The contract is for an initial six months, but the company expects it to be converted to a three-year deal and expects it to be worth about USD8 million in revenue over the whole three-and-a-half years.
Its property unit has won a new contract with a "tier 1 insurer" for property desk review services. This deal is for one year initially, but is expected to be renewed for at least two more years. Innovation Group thinks the deal will generate revenue of over USD1.5 million over the next three years.
Innovation Group shares were flat at 29.50 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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