31st Dec 2020 11:50
(Alliance News) - Tribal Group PLC on Thursday said it has signed a five-year contract worth GBP3.1 million with Kings College London to provide the university with its Tribal:Cloud service.
The education software services provider stated Kings College has decided to migrate its current Student Management System, SITS:Vision to the Tribal SITS Cloud. It added the incremental revenue from the contract is GBP2.1 million, noting this includes an incremental annual recurring revenue of around GBP300,000 per year, commencing in June 2021.
"I am delighted that Kings College London, one of the top research and teaching universities in the world, has selected our cloud service for the ongoing provision of their core student administration service. This is a strong endorsement of the validity of our cloud-first strategy. With a growing recognition across the global education sector of the benefits the public cloud can provide, we are excited by the opportunity ahead," said Tribal Group Chief Executive Mark Pickett.
Shares in Tribal were trading 2.8% higher at 86.62 pence each on Thursday morning in London.
By Ife Taiwo; [email protected]
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