IDE Group Holdings PLC Contract Win (3446K)
04 Enero 2021 - 01:00AM
UK Regulatory
TIDMIDE
RNS Number : 3446K
IDE Group Holdings PLC
04 January 2021
IDE Group Holdings Plc
("IDE", the "Group" or the "Company")
Significant Multi-Year Contract Win
IDE Group Holdings plc, the mid-market network, cloud and IT
managed services provider, is pleased to announce that it has
signed a significant new contract with an existing customer within
its partnership channel (the "Contract"). Under the terms of the
Contract the partner has committed to procure services from IDE to
a value of GBP22.5 million over the next three years, with the
opportunity to extend for up to another two years if the commitment
is not met. The GBP22.5 million is in addition to the existing
circa GBP5 million per annum of revenue contracted with the
partner. The Contract was awarded based on the excellent service
provided by IDE to the partner over the years together with a
commitment from IDE to reduce the cost of services across the
partner's customer base.
Andy Parker, Non-Executive Chairman, said:
" This contract win further enhances our existing relationship
with a long-standing partner and is testament to the excellent
service provided by IDE. We continue to believe that IDE is well
positioned in the market with a product offering that is well
aligned to customer requirements, and this contract is evidence
thereof. The global pandemic led to many challenges, and it is in
this context we are pleased to report that underlying trading has
been satisfactory in the second half of 2020."
The Company will publish a trading update for the year ended 31
December 2020 at the end of January.
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. The above notification
is made in accordance with the requirements of the EU Market Abuse
Regulation.
IDE Group Holdings Plc Tel: +44 (0)344
Andy Parker, Non-Executive Chairman 874 1000
finnCap Limited Tel: +44 (0)20 7220
Nominated Adviser and Broker 0500
Corporate finance: Jonny Franklin-Adams/
Charlie Beeson
ECM: Tim Redfern/ Richard Chambers
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END
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