24th Apr 2015 07:54
LONDON (Alliance News) - RapidCloud International PLC on Friday said it has won a new contract with RedBox, the courier service owned by carrier AirAsia.
Under the five-year deal, IT services company RapidCloud will design, build and operate a cloud-based logistics management system for RedBox. The platform will provide an end-to-end service for monitoring RedBox's entire shipment network.
RapidCloud will derive revenue from the contract on a royalty basis from each transaction processed by the system. RapidCloud expects the agreement will generate revenue of at least GBP150,000 in the first year and increase thereafter.
"The ability to integrate RapidCloud's e-commerce system with this proprietary LMS will enable us to offer a more comprehensive and powerful e-commerce solutions to clients with enterprise-grade logistic handling capability," said RapidCloud Managing Director Raymond Chee.
"This will also enable RapidCloud to offer new e-commerce marketplace platform for various customers such as banks, insurance companies, telcos, government agencies and more. This enterprise deal is typical of the contracts we are now seeking, that deliver annuity-like revenue streams with greater visibility," Chee added.
RapidCloud shares were up 7.7% to 28.00 pence on Friday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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