Pelatro PLC Contract Wins

TIDMPTRO

Pelatro PLC

24 June 2020

June 24, 2020

Pelatro Plc

("Pelatro" or the "Group")

Contract Wins

Pelatro Plc (AIM: PTRO), the telecom Customer Engagement software specialist, today announces that an existing customer has expanded a Business Consultancy engagement to a full Managed Services contract. This deepens the engagement between that customer and Pelatro, while Pelatro expect to add more value to the operations of the telco. This long term Managed Services contract will generate approximately US$2 million of revenue for the Group over the next five years, and underpins the Board's confidence in this year's market expectations. The new contract starts with immediate effect.

Pelatro is also pleased to announce that two other existing customers have placed contracts to upgrade their version of mViva to the current V6, along with a number of Change Requests and three of the Group's new modules, demonstrating Pelatro's ability to scale up mViva to serve the changing and evolving requirements of the industry.

Commenting on these wins, Subash Menon, the Managing Director, CEO and Co-Founder of Pelatro Plc said: "We are encouraged by another customer moving to our Managed Service offering, with long term visibility supported by appropriate strategy and execution capabilities. The new version of mViva and associated new modules have enabled us to deliver more value to our customers. mViva is a very powerful tool for telco marketing, which can be leveraged to deliver superior returns to the telco."

For further information contact:

 
 Pelatro Plc 
 Subash Menon, Managing Director                 c/o Cenkos Securities 
                                                                   plc 
 Nic Hellyer, Finance Director 
 
 Cenkos Securities plc (Nominated adviser 
  and broker)                                      [phone] 
 Stephen Keys / Cameron MacRitchie (corporate 
  finance) 
 Michael Johnson (sales) 
 

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 and B2B applications, and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of the telcos through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.

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

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June 24, 2020 02:00 ET (06:00 GMT)