REG - Pelatro PLC - Contract Win

PelatroAnnouncement

21/06/2022 07:00

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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)       +44 (0)20 7220 0500
 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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