Cerillion PLC Major Contract Win (4292R)

TIDMCER

RNS Number : 4292R

Cerillion PLC

06 July 2022

AIM: CER

Cerillion plc

("Cerillion" or the "Company")

Major Contract Win Worth GBP15m

Cerillion, the billing, charging and customer relationship management software solutions provider, is pleased to announce that it has agreed terms for a 10-year contract, worth approximately GBP15m, with a new telecommunications customer. This contract continues the trend evident over the last two years of winning larger, Software-as-a-Service-based contracts, and follows a major agreement signed in March 2021 with a large South American telecommunications provider. The new customer is a full-service network operator and service provider, offering a full range of mobile, fixed and broadband services, and is the largest full-service provider in its territory. The new contract helps to underpin existing market forecasts for the current financial year and beyond.

Under the terms of the contract, Cerillion's flagship BSS/OSS* suite will replace existing product management, customer relationship management ("CRM"), charging, billing, service orchestration and network inventory systems in a significant digital transformation project. Cerillion will supply and implement the solution, providing it within a private Cloud deployment. The Company will also provide managed services as well as maintenance and support following implementation.

The contract was secured after a rigorous tender process, and implementation starts immediately.

Louis Hall, Chief Executive Officer of Cerillion plc, said:

"We are delighted to have signed this major new contract, which continues the Company's trend of winning larger, SaaS-based contracts. We see this win as further proof of increasing market recognition of the quality of our pre-integrated solution and the clear commercial advantages it offers.

"Customers are looking for solutions that support greater efficiencies, increased automation and swift and easy new product and service launches. Our offering is an out-of-the-box solution that delivers all these benefits quickly and cost effectively."

*Business Support System/Operations Support System

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

 
 Cerillion plc                            c/o KTZ Communications 
  Louis Hall, CEO, Andrew Dickson,         T: 020 3178 6378 
  CFO 
 
 Liberum (Nomad and Broker)               T: 020 3100 2000 
 Bidhi Bhoma, Cameron Duncan, William 
  Hall 
 
 KTZ Communications                       T: 020 3178 6378 
 Katie Tzouliadis, Dan Mahoney 
 

About Cerillion

www.cerillion.com

Cerillion is a leading provider of mission critical software for billing, charging and customer relationship management ("CRM"), mainly serving the telecommunications market but also other sectors such as utilities and financial services. The Company currently has over 80 customer installations across over 44 countries. Headquartered in London, Cerillion also has operations in Pune, India, Sofia, Bulgaria and Sydney, Australia.

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July 06, 2022 02:00 ET (06:00 GMT)