By Iain Gilbert
Date: Monday 15 Jun 2020
LONDON (ShareCast) - (Sharecast News) - Mobile applications developer Crimson Tide has secured a "major contract" with an unnamed "leading neighbourhood retailer".
Crimson Tide said the five-year contract was for its Mpro5 mobile app platform and exceeded £1.6m in total contracted revenue - which represents the platform's second-largest contract in terms of gross revenue.
The AIM-listed firm said Mpro5 would be used in the mystery client's shops to handle reactive and predictive maintenance reporting, while its Internet of Things module would assist with supplying temperature readings, allowing jobs and flows to be scheduled automatically from sensor data.
Chairman Barrie Whipp said: "Mpro5 stands out as the leading mobile app platform in this sector and the bona fides and service quality that we have established served us well during the sales process.
"We continue to trade strongly in the current environment and the pipeline for Mpro5 remains high."
As of 1340 BST, Crimson Tide shares had surged 22.45%
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