Pelatro PLC Large Asian Telco Group Enters Framework Agreement (2352X)
May 04 2021 - 1:00AM
UK Regulatory
TIDMPTRO
RNS Number : 2352X
Pelatro PLC
04 May 2021
04 May 2021
Pelatro Plc
("Pelatro" or the "Group")
Large Asian Telco Group Enters into Framework Agreement
Pelatro Plc (AIM: PTRO), the telecom Customer Engagement Hub
software specialist, is pleased to announce that a large Asian
telco group with about 230 million subscribers, with operating
companies across multiple countries and an existing customer of
Pelatro, has entered into a Framework Agreement (FWA) with Pelatro
for three years. Under this group purchasing arrangement, the
operating companies in the various jurisdictions can be serviced by
Pelatro under one agreement and be confident of receiving the same
high quality of offering and support across the group, as well as
new products and services at pre-agreed pricing. At the same time,
it will more deeply embed Pelatro into their operations and help to
ensure an even closer working relationship with them. The key
aspects of the FWA are:
Ø The current engagement with the operating companies of the
telco group includes annual maintenance support and ad hoc change
requests. These have been brought under the FWA with a base level
of man days for change requests forming part of the contract every
year thereby making those change requests recurring in nature,
along with an annual maintenance fee.
Ø As per the FWA, Pelatro will extend level two support, which
precedes the regular annual maintenance support, resulting in
immediate additional recurring revenue for the Group.
Ø The FWA further includes all other products and services of
Pelatro together with a price list for those. All the operating
companies now have the option to procure all of these products and
services from Pelatro without a formal RFP process or price
negotiation.
Ø While we expect the incremental revenue impact during the
current year to be about $100,000, it will be about $500,000 per
year from 2022 onwards.
Ø Pelatro will be paid a fixed amount quarterly for all the base
products and services making this a recurring revenue contract.
Commenting on this agreement, Subash Menon, Managing Director
and CEO said, "With this Framework Agreement, we are further
cementing our relationship with this telco group for the next three
years. We will be able to sell many new products and services to
them during this period and Change Requests, which have been
repeating in nature, will become recurring revenues."
For further information contact:
Pelatro Plc
Subash Menon, Managing Director c/o Cenkos
Nic Hellyer, Finance Director
Cenkos Securities plc (Nominated Adviser
and Broker) +44 (0)20 7397 8900
Stephen Keys / Mark Connelly (Corporate
Finance)
Michael Johnson (Sales)
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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END
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