REG - Tracsis PLC - Significant Contract Win <Origin Href="QuoteRef">TRCS.L</Origin>

TracsisAnnouncement

19/07/2017 07:00

RNS Number : 4317L
Tracsis PLC
19 July 2017
19 July 2017
Tracsis plc
("Tracsis" or the "Group")
Significant contract win
Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to announce that it has been awarded a significant multi-million pound contract for provision of its key software planning products with a major UK rail operator.
The contract will be delivered over four years and includes the renewal of some existing systems already licenced by the customer. Whilst significant for Tracsis, the contract will not have a financial impact in the current financial year (ending 31st July 2017) but helps to underpin our confidence for the future. For reasons of agreed commercial confidentiality the specific customer cannot be named.
This award follows a comprehensive procurement process where Tracsis was able to successfully demonstrate the functionality and value of existing software products and new innovations. Assuming the contract is fulfilled on time and to the satisfaction of the customer there should be a high degree of recurring revenue beyond the four year period. Given the size and materiality of the contract, the award represents a step change in Tracsis' ability to tender for and win major technology projects and should pave the way for similar sales in the future with other transport operators both within the UK and abroad.
John McArthur, Chief Executive Officer, commented:
"We are absolutely delighted to have secured this major contract with a long standing rail customer and look forward to delivering this project in the coming months. The size and scale of the project is significant for Tracsis and represents the wholescale change that UK transport is going through in adapting to the growing operational demands placed upon the network. This win is testament to our team and our product suite and we believe successful delivery of this project will lead to our Enterprise systems being adopted elsewhere in the fullness of time. "
For more information please contact:
John McArthur/Max Cawthra, Tracsis plc
Tel:0845 125 9162
Matt Lewis, Dominic Emery Investec Bank plc
Tel: 020 7597 4000
The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to editors:
 The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.
 Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.
 The Company offers the following services:
-Rail Technology & Services:Software and technology led consulting, and Remote Condition Monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.
-Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.
 Tracsis has a blue chip client base which includes the majority of UK transport operators and organisations involved in large scale pedestrian and traffic management and monitoring. The business works extensively with Network Rail, the Department of Transport, multiple local authorities, and a variety of large engineering, infrastructure and event companies.
 The business drives growth both organically and through acquisition and has made eight acquisitions since 2008.
 Tracsis listed on AIM in 2007 under ticker TRCS.
 For more information visithttp://www.tracsis.com

This information is provided by RNS
The company news service from the London Stock Exchange
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