Contract Win

RNS Number : 4682O

Crimson Tide PLC

01 February 2023

 

 Crimson Tide Plc

Inaugural Contract Win in the United States

Crimson Tide Plc (TIDE) ("Crimson Tide" or "The Company"), the provider of the mpro5 solution, is pleased to announce the signature of its inaugural subscription contract in the United States. The three-year contract is worth over £0.25m and will see mpro5 implemented as the Smart App Solution in a building-wide IoT project in our clients' offices in San Francisco.

mpro5 will be used to initiate smart actions from sensor readings in this office, which is envisaged to be the first in a wider implementation of mpro5 in the US and other locations. The client is a supplier of network solutions globally, and this installation will enable its representatives to demonstrate mpro5 to its own existing and projected clients.

Chairman Barrie Whipp commented, "This contract win is a landmark in its own right, validating our strategy to expand into the United States. The opportunity that it creates, however, is of much greater significance. Our client operates globally, and the use of mpro5 in its San Francisco office offers us the chance to demonstrate mpro5 in action for one of the world's largest providers of IT networking.

"The contract win verifies our strategy to standardize mpro5 and productize it for sale and use with third-party hardware and software. We hope that mpro5 will become an integral part of our client's IoT strategy, allowing its partners to add mpro5 as an option in their sales process."

Enquiries:

Crimson Tide plc   [phone]

Barrie Whipp / Jacqueline Daniell

finnCap Ltd (Nominated Adviser and Broker)                               [phone]

Julian Blunt / Milesh Hindocha, Corporate Finance

Andrew Burdis, Corporate Broking

Alma PR (Financial PR)  [phone]

Josh Royston

For further information on Crimson Tide plc, see crimsontide.co.uk and mpro5.com

 

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