RedstoneConnect PLC Contract Extension for OneSpaceT with UBM

TIDMREDS

RedstoneConnect PLC

05 April 2017

5 April 2017

RedstoneConnect plc

("RedstoneConnect")

RedstoneConnect extends OneSpace(TM) solution

to UBM's global office portfolio

RedstoneConnect (AIM: REDS), a leading provider of technology and services for smart buildings and commercial spaces, announces the global roll-out of its award-winning workspace management software solution, OneSpace(TM), with UBM, a leading global events and marketing communications specialist, across their office portfolio.

Following the successful deployment of OneSpace(TM) in London and New York, UBM has now committed to extending its utilisation of the platform to a further 10 global locations including Hong Kong, Amsterdam, Minnesota, Kansas and Manchester.

This newly agreed contract extension will see UBM's deployment of OneSpace(TM) for integrated room booking and desk monitoring across these additional locations, increasing the overall penetration of OneSpace(TM) to over 1,500 desks and 39 meeting rooms. The newly agreed annuity based contract extension will be based on the number of desks being managed by OneSpace(TM).

OneSpace(TM) provides real-time monitoring and analysis of occupancy trends and will enable UBM to optimise the utilisation of space to ultimately reduce capital and operational expenditure.

UBM originally implemented OneSpace(TM) at their flagship 11,000 Sq Ft office in London, enabling staff to work more flexibly and giving the business an ability to operate at a ratio of 10 desks to every 14 employees, with occupancy rates in excess of 80%.

Mark Braund, CEO of RedstoneConnect, commented:

"We are delighted to be extending our relationship with UBM which reinforces the compelling business case for deploying OneSpace(TM). The significant cost savings and enhancements to the working environment at UBM London and UBM New York were the key drivers behind this extensive adoption of the technology across 10 of their global office locations.

"We believe OneSpace's(TM) ability to deliver quantifiable analytics makes it an extremely powerful business tool enabling organisations to increase headcount without incurring unnecessary real estate costs."

Enquiries:

 
 RedstoneConnect Plc                      via Vigo Communications 
  Mark Braund (CEO) 
  Spencer Dredge (CFO) 
 Cantor Fitzgerald Europe (Nominated 
  Adviser & Joint Broker) 
  Marc Milmo/Phil Davies/Catherine        [phone] 
  Leftley/Callum Butterfield               7000 
 Whitman Howard Limited (Joint Broker)    [phone] 
  Nick Lovering                            1234 
 Vigo Communications (Financial 
  Public Relations) 
  Jeremy Garcia / Ben Simons / Antonia 
  Pollock                                 [phone] 
  [e-mail]                       9700 
 

About RedstoneConnect

RedstoneConnect is focused on technologies that make real estate more efficient and businesses more effective. Its businesses, Redstone, Connect IB and Commensus, provide the infrastructure capabilities and the software applications to deliver smart building and smart workspace solutions for commercial businesses, public sector organisations, real estate owners and managers. Visit our website at www.redstoneconnectplc.com.

About OneSpace(TM)

OneSpace(TM) is a software solution, available as a SaaS offering or on a traditional licence basis. The software provides real time measurement and analysis of occupancy trends, delivering optimisation of office space environments. This enables organisations to maximise the utilisation of space, ultimately reducing operational costs at the same time as improving work force engagement and the working environment. OneSpace(TM) is a functionally rich software platform, enabled over any device, empowering both employees and managers alike, resulting in a more collaborative and effective work environment. OneSpace(TM) is a pure software solution that requires no significant investment in hardware, making it a cost effective solution that can be rapidly configured to any space anywhere in the World.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 05, 2017 02:00 ET (06:00 GMT)