Global Framework Agreement with Telenor

RNS Number : 6110C

Pelatro PLC

02 October 2018

 

2 October 2018

Pelatro Plc

("Pelatro", the "Company" or the "Group")

Pelatro signs Global Framework Agreement with Telenor Group for Loyalty Management Solution

Pelatro Plc (AIM: PTRO), the global Multichannel Marketing Hub software specialist, is pleased to announce that it has been selected by Telenor Group of Norway to supply its Loyalty Management Solution to the operations of Telenor globally.

Pelatro has already been supplying its Contextual Marketing Platform to three operating companies of the Telenor Group under a Global Framework Agreement, pursuant to the acquisition of certain assets of the Danateq Group ("Danateq") in July 2018 (the "Acquisition"). This agreement has now been expanded to include a Loyalty Management Solution, thereby deepening the engagement between Telenor and Pelatro.

Pelatro will now present the solution to multiple operating companies within the Telenor Group with a view to implementing and supporting the solution in those networks. The Loyalty Management Solution from Pelatro has been in operation at Globe, Philippines for the past five years and was also acquired from Danateq. This advanced Loyalty Management Solution helps telcos to significantly expand and deepen their relationship with their customers thereby increasing revenue per user ("ARPU") and reducing churn.   

With the Acquisition, Pelatro's offering expanded from one product to four products. This presents the opportunity to sell multiple products to each customer, thereby making Pelatro a more relevant and important partner of the telcos. The Company is encouraged by the move by Telenor Group to include a Loyalty Management Solution in the Global Framework Agreement and the Board believes that this provides further affirmation as to the Company's products and partnership and represents further validation of the rationale for the Acquisition.

With the envisaged implementation of the Loyalty Management Solution by Telenor operating companies, the Company is confident that it will be in a strong position to sell this solution to other telcos, including existing customers of Pelatro in due course.

Commenting on this development, Subash Menon, Managing Director & CEO of Pelatro Plc said:

"Telcos have started realising the inherent benefit in working with a partner who can provide a holistic solution for the twin problems of ARPU reduction and increasing churn. mViva Contextual Marketing Solution and mViva Loyalty Management Solution jointly meet this specific need of the telcos by leveraging the interplay of these two solutions. We expect that this will open up multiple opportunities for Pelatro in the near future."

For further information contact:

Pelatro Plc
Subash Menon, Managing Director & CEO	c/o IFC
Nic Hellyer, Finance Director
finnCap Limited (Nominated Adviser and Broker)	[phone]
Carl Holmes/Kate Bannatyne/Matthew Radley
IFC Advisory Limited (Financial PR and IR)	[phone]
Tim Metcalfe/Miles Nolan/Zach Cohen

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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 applications, and is well positioned in the Multichannel Marketing Hub space (MMH) - this is technology that orchestrates a customer's communications and offers to customer segments across multiple channels to include websites, social media, mobile, direct mail, email and others.

Pelatro is expanding by a mix of organic and acquisition led growth. In August 2018 the Company completed the acquisition of certain assets of Danateq Pte Ltd (Danateq). This acquisition doubles the subscriber base to 325 million and brings immediate entry into Central Europe as well as a large recurring revenue base.

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

 

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