Contract Win

RNS Number : 5262P

Pelatro PLC

21 June 2022

 

21 June 2022

Pelatro Plc

("Pelatro" or the "Group")

Contract Win

Pelatro Plc (AIM: PTRO), Customer Engagement Hub software specialist, is pleased to announce that it has been selected by a large global telco to provide its mViva Campaign Management Solution to provide a Proof of Concept (POC), which is expected to be in place for about 6 months. Whilst there can be no certainty that the Company will be successful with this POC, it has historically been a successful approach for new contract wins for Pelatro with other similar telco groups.

Should the POC be successful, it is expected that mViva will be rolled out progressively to all the opcos of the telco. Once all opcos are operational on mViva (expected over the subsequent 24 to 30 months), the full potential of this recurring revenue contract would be about $4 million per year and  revenue from this contract would start in 2023.

Commenting on this, Subash Menon, Managing Director and CEO said, "This is a transformative step for us. Pelatro has been focusing on recurring revenue for the past couple of years and this win could materially change the current annual recurring revenue run rate. Further, it would add a marquee customer to our impressive list. We look forward to providing a further update on this following the POC phase."

For further information contact:

Pelatro Plc
Subash Menon, Managing Director	c/o finnCap
Nic Hellyer, Chief Financial Officer
finnCap Limited (Nominated Adviser and broker to Pelatro)	[phone]
Carl Holmes/Kate Bannatyne/Milesh Hindocha (Corporate Finance)

Notes to editors

The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement principally to telcos who face a series of challenges including market maturity, saturation and customer churn.

Pelatro provides its "mViva" platform for use by customers in B2C and B2B applications and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of the telcos through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.

For more information about Pelatro, visit www.pelatro.com

 

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