11th Dec 2019 11:19
(Alliance News) - Pelatro PLC said Wednesday an unnamed customer in Asia has expanded its contract with the company.
Shares in telecom software management firm were up 8.1% in London in mid-morning trade at 57.30 pence each.
Pelatro said the contract is worth about USD1 million over three years.
"The group has been selected by one of its existing customers in Asia to provide business consultancy for the campaign management activities of the telco," Pelatro said.
The company continued: "The telco became a customer of Pelatro in 2018 by procuring the licence for mViva Contextual Marketing Solution for campaign management activities. The product went live in their network in early 2019 and the telco has been sending campaigns since then."
Managing Director Subash Menon added: "We are delighted to be chosen for this project with our existing customer as it is further acknowledgement of our domain expertise, ability to cross sell value added services. Further, this will open up a new annuity revenue stream for Pelatro from existing licence customers in line with our strategy of pursing agreements with higher visibility and recurring revenue."
By Paul McGowan; [email protected]
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