24th Jul 2014 10:07
LONDON (Alliance News) - Outsourcery PLC said Thursday that it had won a contract with a new customer via a key partner that is expected ultimately to deliver GBP70,000 in monthly recurring revenue.
The cloud computing company name neither the customer nor the partner.
The contract has a five-year term, and is expected to deliver GBP840,000 annually once fully deployed. It expects monthly recurring revenue to reach around GBP10,000 by the end of 2014, with a full roll-out expected in the first quarter of 2015.
Outsourcery said that there were opportunities to further grow the contract with time if the end-customer chooses to exploit additional services. A one-off and non-recurring revenue of around GBP40,000 will arise from the contract for the design and integration phase, which will be recognised in the next few months.
"There is a significant revenue opportunity ahead as the Microsoft business installed base moves to the cloud with new services such as Lync creating new and disruptive market opportunities," said Co-Chief Executive Piers Linney in a statement.
Shares in Outsourcery were trading up 3.5% at 32.60 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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