ServicePower gains meaty retail deal
ServicePower Technologies, the Stockport-based company whjich makes software allowing companies to monitor field staff, has announced a deal with a “Tier 1” retailer which it has said will be worth a minimum of £1.5m in 2011.
The company also said that the value of this contract could “materially increase” in future years as the retailer has taken an option to extend is current deal covering one contract across the rest of its business. If this were to happen, the deal could eventually be worth £12.5m to the company.
ServicePower said the deal was with a new customer and was the first deal which it has landed through its partnership speciality insurance provider Assurant Solutions.
It said “the achievement of winning such a prestigious customer demonstrates the early success of the license and revenue share partnership agreement signed in March 2011”.
Mark Duffin, CEO of ServicePower, said: “We are delighted that this Tier 1 retailer has chosen our proven global field services platform. The delivery of these additional customer-focused services is, in our opinion, key to the retailer’s growth strategy and we are therefore confident of progressing on to the next phase of the contract.
“This deal has been made possible through our partnership agreement made with Assurant in March and it is particularly pleasing to see such early success being achieved. We believe that this partnership has the potential to be transformational for ServicePower providing us with direct access to Assurant’s vast global customer base.”
