8th Nov 2013 10:09
LONDON (Alliance News) - Quindell Portfolio PLC said Friday that it had won a contract with insurer and automobile association CAA South Central Ontario in Canada to provide telematics to its members. Qunidell said it was its first major contract win in North America.
CAA South Central Ontario has 1.9 million members in Southern Ontario, Qunidell said, with sister organizations across Canada with a combined 5.8 million members. Quindell said that based on a 10% to 30% take-up in Canada with automobile association members, the contract has revenue potential of CAD79 million to CAD237 million per annum.
Under the contract, Quindell will provide information and communications technology and services for CAA's auto club members and insurance customers for a minimum of five years.
Quindell sells software and consulting services. Its shares were trading up 5.5% at 16.35 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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