REG - Tribal Group PLC - Kings College London Contract Win

TribalAnnouncement

31/12/2020 11:20

RNS Number : 2977K
  
Tribal Group PLC
  
31 December 2020
  
 

31st  December 2020
Tribal Group plc
("Tribal" or "the Group")
King's College London signs multi-year subscription for Tribal:Cloud service
Tribal (AIM: TRB), a leading provider of software and services to the international education market, announces that it has signed a £3.1m, 5-year contract with Kings College London to provide the university with its Tribal:Cloud service.  The incremental revenue from the contract is £2.1m, and includes an incremental Annual Recurring Revenue value of approximately £0.3m per year, commencing in June 2021.
An existing on-premise customer of Tribal Group, King's College London has elected to migrate its current Student Management System (SMS), SITS:Vision, to the Tribal SITS Cloud, providing an improved student experience and delivering operational efficiencies for the university.
Mark Pickett, Tribal's CEO, commented: "I am delighted that Kings College London, one of the top research and teaching universities in the world, has selected our cloud service for the ongoing provision of their core student administration service. This is a strong endorsement of the validity of our cloud-first strategy. With a growing recognition across the global education sector of the benefits the public cloud can provide, we are excited by the opportunity ahead."
 



Tribal Group plc


  Tel: +44 (0) 117 311 5293




Mark Pickett, Chief Executive Officer
Paul Simpson, Acting Chief Financial Officer








Ken Lewis, Company Secretary


















Investec Bank plc (NOMAD & Joint Broker)


Tel: +44 (0) 20 7597 5970




Sara Hale, Virginia Bull, Will Godfrey 


















N+1 Singer Capital Markets Limited (Joint Broker)


Tel: +44 (0) 20 7496 3000 




Shaun Dobson, Tom Salvesen, Alex Bond, 


















Alma PR


Tel: +44 (0)203 405 0205




Caroline Forde, Robyn Fisher, Josh Royston, Molly Gretton 







 
About Tribal Group plc
 
Tribal Group plc is a pioneering world-leader of education software and services. Its portfolio includes Student Information Systems; a broad range of education services covering quality assurance, peer review, benchmarking and improvement; and student surveys that provide the leading global benchmarks for student experience. Working with Higher Education, Further and Tertiary Education, schools, Government and State bodies, training providers and employers, in over 55 countries; Tribal Group's mission is to empower the world of education with products and services that underpin student success.
 
This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose.  Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed.  This Statement may contain forward-looking statements.  Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information.  To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change.  Tribal undertakes no obligation to update these forward-looking statements.
 

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