Proxama PLC Contract Renewal

TIDMPROX

Proxama PLC

13 July 2017

13 July 2017

Proxama PLC

("Proxama" or the "Company")

Contract Renewal

Proxama PLC (AIM: PROX), the mobile location data and intelligence expert, is pleased to announce that a major North American bank has renewed its contract to use Proxama's location technology for a further 12 months.

The contract renewal, commencing from July 2017, follows the success of the initial contract, and will generate further recurring revenue for the business. The renewal will see Proxama continue to maintain a network of location services for 10,000 mobile touch points throughout the bank's national branch network in Canada.

The bank is using Proxama's mobile location technology to enable their banking customers to directly download their mobile payment app, enabling further engagement with the bank. Over the last 12 months the ease of downloading the app has meant significant numbers of customers have used their mobile to make payments, leading to an increase in overall transaction volumes.

John Kennedy, Chief Executive of Proxama said:

"This contract is significant for Proxama as it demonstrates our ability to work with leading brands to support major location campaigns in different geographies. The renewal of this contract is not only a testament to our product and services, but also evidence of the continued demand for location-based mobile services across the globe."

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Enquiries:

 
 Proxama PLC 
  John Kennedy, Chief Executive      020 3668 2888 
 Peel Hunt LLP 
  (Nominated Adviser and Broker) 
  Richard Kauffer/Euan Brown         020 7418 8900 
 Redleaf Communications 
  Charlie Geller/Elise Palmer/Sam 
  Modlin                             0207 382 4769 
 

About Proxama

Proxama is a mobile location data and intelligence business, helping companies connect the online world with the offline world using mobile location technology data. To do this we use the latest location technologies embedded into our partner apps on consumer's mobile phones and when combined with geo-location capabilities and our extensive Bluetooth beacon network, we generate and store anonymised data.

Proxama is media-agnostic and works with a variety of media, advertising, technology partners - plus the world's biggest brands. Its technology is well positioned to fulfil the need for greater accuracy and accountability, in a growing market that is increasingly looking for superior data and verification. We help them measure the effectiveness of their online media and whether it results in actual store visits or drives a behaviour, to a precision never seen before.

We can also help publishers monetise their apps and conventional physical media companies measure their audience.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 13, 2017 02:00 ET (06:00 GMT)