7th Apr 2014 08:02
LONDON (Alliance News) - Ubisense Group PLC Monday said that it has won a USD1.2 million software order from a large communications network operator.
Ubisense provides hardware, software and services to businesses to track people and assets.
The group did not name the network operator, but said that the contract is to provide the clients engineering and operational staff with an online and offline web-based tool for Ubisense's map-based asset data.
"This blue chip operator has selected our real-time location intelligence software in order to enhance operational awareness across the network to ultimately help the business work more effectively," said Chief Executive Richard Green in a statement.
Last week Ubisense said it had raised GBP4.2 million from a placing of 1.9 million shares at a price of 220 pence per share. The company said the cash was made through a non pre-emptive placing to institutional investors in order to fund investment in growing the company's solutions business division. It also said it plans to use the placing proceeds to replicate its German business model, which enjoys higher cash generation and profitability, in other geographies, such as North America, through investing in sales personnel and sales support.
Ubisense shares were 2.1% higher early Monday, trading at 240.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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