REG - Cloudcoco Group PLC - Significant New Customer Contract Win

CloudcocoAnnouncement

15/11/2021 07:05

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RNS Number : 3062S  Cloudcoco Group PLC  15 November 2021

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

 

15 November 2021

 

CloudCoCo Group plc

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

 

Significant new customer contract win

 

·    Value of approximately £3m over three years with further upside
potential

·    Largest managed services contract since CloudCoCo was formed in 2018

 

CloudCoCo (AIM: CLCO), a leading UK provider of managed IT services and
communications solutions to private and public sector organisations, is
pleased to announce it has been awarded a multi-year contract with a new
customer in the digital transformation services industry which services
clients globally.

 

The contract is valued at approximately £3m over a period of three years with
further upside potential. It is the largest managed services contract signed
by the Company since CloudCoCo was formed in April 2018 and will see the
customer receive a high availability hosted cloud platform solution tailored
to its needs and managed 24/7 by CloudCoCo's team of experts.

 

Mark Halpin, CEO of CloudCoCo, said:

 

"It has been a busy few months from an M&A perspective, so I'm delighted
to be able to follow that activity with a new business win of this magnitude.
We look forward to working with our new customer to take their IT
infrastructure to the next level."

 

Simon Duckworth, Non-Executive Chairman of CloudCoCo, added:

 

"This agreement is a great example of our focus on landing larger and longer
contracts that provide greater visibility of revenues paying off. We now have
the right infrastructure and team in place to pursue more of these kinds of
opportunities, and are confident of making continued commercial progress."

 

Contacts:

 

 CloudCoCo Group plc                                          Via Alma PR

 Mark Halpin (CEO)

 Darron Giddens (CFO)

 Allenby Capital Limited - (Nominated Adviser & Broker)       Tel: +44 (0)20 3328 5656

 Jeremy Porter / James Reeve - Corporate Finance

 Tony Quirke / Amrit Nahal - Sales & Corporate Broking

 Alma PR - (Financial PR)                                     Tel: +44 (0)20 3405 0205

 David Ison                                                  cloudcoco@almapr.co.uk

 Josh Royston

 Kieran Breheny

 

About CloudCoCo Group plc

 

Supported by a team of industry experts and harnessing a diverse ecosystem of
partnerships with blue-chip technology vendors, CloudCoCo makes it easy for
private and public sector organisations to work smarter, faster and more
securely by providing a single point of purchase for their connectivity,
telephony, cyber security, cloud, IT hardware and support needs.

 

CloudCoCo has offices in Warrington, Leeds and Sheffield in the UK.

 

www.cloudcoco.co.uk (http://www.cloudcoco.co.uk)

 

 

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