Pelatro PLC Contract Win (7956R)

TIDMPTRO

RNS Number : 7956R

Pelatro PLC

05 March 2019

Pelatro Plc

("Pelatro", the "Company" or the "Group")

Contract Win

Pelatro selected to provide mViva Contextual Marketing Solution to Ooredoo Maldives

Pelatro Plc (AIM: PTRO), the global Multichannel Marketing Hub software specialist, announces a contract with Ooredoo Maldives, a mobile network operator in Maldives, worth approximately $1.6m of revenue over three years.

Increasing revenue visibility and further opportunity to cross sell to the enlarged group

Pelatro will supply its mViva Contextual Marketing Platform to assist Ooredoo Maldives increase its revenue and customer engagement whilst reducing churn. The agreement provides Pelatro with a fixed monthly fee in addition to a share of the incremental revenue generated by Ooredoo Maldives from its customers, as a result of mViva.

Importantly, this contract provides the Company with significant opportunity to cross sell into the wider Ooredoo Group, which is headquartered in Qatar. The Ooredoo Group has operations in 10 countries and has a collective subscriber base of 115 million.

Widened geographic reach

This contract further broadens the Company's geographic client footprint to 15 countries with Pelatro's mViva Contextual Marketing Solution, which is part of its Multichannel Marketing Hub offering, now being used by more than 16 Telcos.

Commenting on this contract win, Subash Menon, Managing Director & CEO of Pelatro said:

"We are delighted to work with the Ooredoo Group and are extremely excited by the potential to open up multiple routes to market within the wider Ooredoo Group in the future. This latest contract win highlights the strength of our product and the Company's ability to win new contracts from Telcos. We now have visibility of around $5.3m of revenue in 2019 and are delighted that this has been achieved so early in the year, giving the Board increased confidence in the full year."

For further information contact:

 
 Pelatro Plc 
 Subash Menon, Managing Director & CEO         c/o Walbrook PR 
 Nic Hellyer, Finance Director 
 
 finnCap Limited (Nominated Adviser and 
  Broker)                                  [phone] 
 Carl Holmes/Kate Bannatyne 
 
 Walbrook PR Advisors                      [phone] 
 Paul Cornelius/Nick Rome 
 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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 applications, and is well positioned in the Multichannel Marketing Hub space (MMH) - this is technology that orchestrates a customer's communications and offers to customer segments across multiple channels to include websites, social media, apps, SMS, USSD and others.

For more information about Pelatro, visit www.pelatro.com

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March 05, 2019 02:00 ET (07:00 GMT)