Partnership Agreement

RNS Number : 3934U

Altitude Group PLC

24 October 2017

 

24 October 2017

ALTITUDE GROUP PLC

 (the "Company" or "Altitude")

 Partnership Agreement

Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products, is pleased to announce a new two year Channl enterprise partnership with Drummond Press Inc ("Drummond") of Jacksonville Florida USA, one of the largest and fastest growing managed print services groups in the south eastern United States, incorporating established current promotional products revenues of circa $3.0 million pa. The main features of the partnership agreement are as follows:

·    The Channl platform technology will provide a promotional product ecommerce platform for each of Drummond's approximately 14,000 existing end user customers

·    The Drummond Channl sites will feature a curated collection of corporate personalised merchandise provided by Channl's supply partners.

·    In addition, Altitude will provide its comprehensive CRM and sales order management system. Both platforms will be provided to Drummond in return for Altitude receiving a share of the throughput supplier revenue from both ecommerce and non-ecommerce transactions.

·    Drummond contracts to procure all promotional product supplies through Altitude on an exclusive basis during the contract term and route all current promotional product revenues either through the ecommerce Channl platform or the

sales order management system provided under the partnership agreement

Peter Hallett, Executive Chairman of Altitude, commented: "We are delighted to have been chosen by Drummond to provide our unique Channl technology and supply chain offering. Establishing this new partnership with Drummond, a fast growing and forward-thinking provider of managed print services demonstrates the attractiveness of our Channl and existing CRM and order management solutions as a free and compelling leading edge technology solution for businesses for whom promotional products represent a substantial revenue opportunity."

Enquiries:

Altitude Group plc Peter Hallett, Executive Chairman	07887 987469
finnCap ltd	020 7220 0500
Jonny Franklin-Adams (Corporate Finance)
Scott Mathieson (Corporate Finance)
Richard Chambers (Corporate broking)

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

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