LoopUp Group PLC Major Cloud Telephony distribution alliance (7988Q)

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RNS Number : 7988Q

LoopUp Group PLC

01 November 2021

1 November 2021

LOOPUP GROUP PLC

("LoopUp" or the "Group")

Major Cloud Telephony sales and distribution alliance

LoopUp Group plc (AIM: LOOP), the cloud platform for premium specialist communications, is pleased to announce a major strategic sales and distribution alliance for its Cloud Telephony solution with a leading international telecommunications provider.

In Q3 2020, the Group announced the launch of its internationally differentiated Cloud Telephony solution, integrated into Microsoft Teams via 'Direct Routing' peering with Microsoft. This global capability enables customers to make phone calls to external phone numbers and receive phone calls to their own work phone numbers, all directly from their Microsoft Teams user interfaces.

In July 2021, the Group announced that it had since won 15 direct Cloud Telephony customers, built a GBP58 million Annual Contract Value pipeline of direct sales opportunities, and developed a strong pipeline of negotiations with potential strategic alliance partners for indirect sales and distribution. This deal announcement marks the execution of the first of these major alliances.

Under the terms of the deal, the strategic alliance partner will resell LoopUp's Cloud Telephony solution on a white-labelled basis to its business customer base, which spans over 20 country markets. Importantly, this alliance marks the introduction of cloud-based Microsoft Teams telephony to business customers across that region, where the general adoption of Microsoft Teams has grown strongly since its launch.

Furthermore, the scope of the strategic alliance also extends LoopUp's geographic service coverage for its own multinational direct customers, who are seeking to consolidate their global telephony into a single, consistently-managed implementation through one provider on one platform. The Group will be a fully licensed and regulated telephony provider in approximately 60 countries by Q1 2022, and this strategic alliance will extend its compliant service provision reach to approximately 80 countries in that timeframe, which the Group believes will represent market-leading coverage.

Further details of the alliance will be announced in the run-up to service launch, which is expected to be during the first half of 2022.

Steve Flavell, co-CEO of LoopUp, commented:

"We're delighted to announce our first strategic sales and distribution alliance in Cloud Telephony with a prominent player in the telecommunications market. We believe such alliances represent a highly scalable and valuable route to market for the Group. Both we and the partner see clear customer demand for Microsoft Teams telephony in their markets, and we look forward to working alongside their team to help fulfil that demand."

Market abuse regulation:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").

For further information, please contact:

 
LoopUp Group plc                                    via FTI 
Steve Flavell, co-CEO 
 
                                                      [phone] 
  Panmure Gordon (UK) Limited                         2500 
Dominic Morley / Alina Vaskina (Corporate 
 Finance) 
Erik Anderson (Corporate Broking) 
 
                                                      [phone] 
  Cenkos Securities Limited                           8900 
Giles Balleny / Dan Hodkinson (Corporate Finance) 
Alex Pollen (Sales) 
 
                                                    [phone] 
FTI Consulting, LLP                                  1000 
Matt Dixon / Jamille Smith / Tom Blundell 
 

About LoopUp Group plc

LoopUp (LSE AIM: LOOP) is a cloud platform for premium specialist communications, focusing on capabilities that complement foundational unified communications platforms, such as Microsoft Teams. The Group's flagship Cloud Telephony solution for Microsoft Teams enables enterprise customers to eliminate disparate on-premises phone systems and multiple telecommunications service providers, and consolidate their global telecommunications into a single cloud implementation. LoopUp's global IP backbone interconnects with 18 carefully selected regional carrier partners and the Group has market-leading coverage as a licensed telecommunications service provider. The Group is listed on the AIM market of the London Stock Exchange (LOOP) and is headquartered in London, with offices in the US, Spain, Germany, Hong Kong, Barbados and Australia. For further information, please visit: www.loopup.com.

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November 01, 2021 03:00 ET (07:00 GMT)