Cloudcoco Group PLC Operational Update

TIDMCLCO

Cloudcoco Group PLC

18 April 2023

18 April 2023

REACH - non-regulatory announcement*

CloudCoCo Group plc

("CloudCoCo" or the "Group")

Operational Update

CloudCoCo (AIM: CLCO), a leading UK provider of Managed IT services and communications solutions to private and public sector organisations, provides an update on recent commercial activity.

   --    More than 15,000 products added to the MoreCoCo website 
   --    Launch of multi-cloud solutions practice 
   --    Strategic partnerships with Abstract Tech and Ingram Micro 
   --    Silicon Yorkshire platinum sponsorship 

More than 15,000 products added to MoreCoCo website

Further to its acquisition of online technology retailer MoreComputers in August 2021 and subsequent rebranding to MoreCoCo, the Group announces it has partnered with a global leader in the purchase, restoration and sale of IT hardware (the "Partner"). The Partner's refurbished products will now be available for purchase on the MoreCoCo site with three-year warranties. With organisations and consumers increasingly looking to reduce their carbon footprint and maximise reducing budgets, the partnership will enhance the customer experience and grow the Group's addressable market significantly.

Launch of multi-cloud solutions division

With networking professionals increasingly seeing multi-cloud capability as a strategic imperative, CloudCoCo is pleased to announce the launch of a dedicated and agnostic multi-cloud division, headed up by Lee Thatcher in the new role of Head of Cloud and Innovation. Lee joins CloudCoCo with over 20 years' experience working in technology firms, including eight in senior cloud positions.

Multi-cloud is one of the pre-eminent trends in IT, involving the use of multiple cloud deployments of the same kind from different vendors. Offering several operational advantages including greater efficiency, customisation, continuity, and risk management potential, multi-cloud execution is increasingly becoming a pre-requisite for larger and more complex organisations.

Strategic partnerships with Abstract Tech and Ingram Micro

CloudCoCo is pleased to announce two strategic partnerships to help realise its multi-cloud growth vision.

CloudCoCo has signed a partnership with Abstract Tech ("Abstract"), a Leeds-based consultancy specialising in the delivery of large scale, digital transformation projects. Through this partnership, CloudCoCo will be able to tap into the expertise of Abstract's 150 employees to undertake a broader range of more advanced, multi-cloud projects across the public and private sectors, opening up a range of potential new revenue opportunities.

The Group has also signed a new partnership with Ingram Micro ("Ingram"), the world's largest global business-to-business wholesale provider of technology product and supply chain management services, for the supply of Microsoft Azure and other cloud services. Under the agreement, CloudCoCo will migrate its cloud business to Ingram Micro Cloud Marketplace to offer leading-edge vendor cloud solutions, such as Microsoft Azure, AWS and Google GCP. This strategic partnership allows CloudCoCo's multi cloud practice to leverage Ingram's hundreds of in-built cloud providers through a simplified single portal.

Strategic partnerships, in providing low-cost, low-risk access to new ideas, customers and innovation, form an important part of CloudCoCo's strategy to accelerate growth.

Silicon Yorkshire platinum sponsorship

CloudCoCo is proud to announce its platinum sponsorship of the first ever Silicon Yorkshire Expo, scheduled to take place at the Everyman Cinema in Leeds on 19 April 2023. The event, which is set to be the highlight of the Yorkshire technology calendar, will see a host of high-profile guest speakers deliver talks on the latest trends. CloudCoCo CEO Mark Halpin will be in attendance to discuss the Group's growth plans, including new multi-cloud initiatives, collaborations and a tailored offering for startups in line with its commitment to support up and coming technology firms in the region.

Mark Halpin, Chief Executive Officer of CloudCoCo, commented:

"Our operational progress reflects our ongoing commitment to innovation and delivering an exceptional customer experience. There is a growing demand for agile providers of IT hardware and cloud solutions, and these recent steps taken leave us well positioned to deliver on our long-term goals.

"Alongside this, we look forward to showcasing our offering and discussing our growth plans further at Silicon Yorkshire later this week."

Contacts:

 
 CloudCoCo Group plc                                             Via Alma PR 
  Mark Halpin (CEO) 
  Darron Giddens (CFO) 
 Allenby Capital Limited - (AIM Nominated Adviser & Broker)      Tel: [phone] 
  Jeremy Porter / Daniel Dearden-Williams - Corporate Finance 
  Tony Quirke / Amrit Nahal - Equity Sales 
 Alma PR - (Financial PR)                                        Tel: [phone] 
  David Ison                                                      [e-mail] 
  Kieran Breheny 
  Pippa Crabtree 
 

About CloudCoCo

Supported by a team of industry experts and harnessing a diverse ecosystem of partnerships with blue-chip technology vendors, CloudCoCo makes it easy for private and public sector organisations to work smarter, faster and more securely by providing a single point of purchase for their Connectivity, Multi-Cloud, Collaboration, Cyber Security, IT Hardware, Licencing, Support and Professional Services.

CloudCoCo is headquartered in Leeds and has regional offices in Warrington and Bournemouth.

www.cloudcoco.co.uk

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April 18, 2023 02:00 ET (06:00 GMT)