20th Feb 2014 09:37
LONDON (Alliance News) - Instem PLC said Thursday that it had won a three year contract with a pharmaceutical company to provide its Animal Care Information System software for USD200,000 on a yearly basis.
Instem said that the pharmaceutical company has been using ACIS in the UK since 2011, but is now transitioning to a Software-as-a-Service model for ACIS across its global operations.
Revenue from this contract will be added to the company's recurring SaaS revenues, which exceed USD2 million per year, Instem said.
Shares in Instem were trading down 0.6% at 168.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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