Tribal Group PLC South East Asia Contract Win (0157K)
29 Diciembre 2020 - 5:34AM
UK Regulatory
TIDMTRB
RNS Number : 0157K
Tribal Group PLC
29 December 2020
29 December 2020
Tribal Group plc
("Tribal" or "the Group")
South East Asia Contract Win
Tribal secures GBP17m contract for next generation student
management system
Tribal (AIM: TRB), a leading provider of software and services
to the international education market, announces that it has signed
a significant eight-year contract (three years plus five one-year
extensions) worth up to SGD30m (GBP16.9m) with the world-leading
university, Nanyang Technological University, Singapore for
Tribal's cloud-based SITS:Vision Student Management System and
next-generation Tribal Edge products. The contract will increase
Annual Recurring Revenues (ARR) by approximately GBP1.2m per year,
with implementation commencing in the first quarter of 2021.
Nanyang Technological University ("NTU") has over 32,000
students from approximately 80 countries. It is one of the
fastest-rising universities in the world's top 50 and is currently
ranked 11(th) according to QS World University Rankings. This
prestigious win, following a highly competitive tender, underlines
Tribal's position as a leading provider of Student Management
systems in South East Asia.
To maintain its position at the forefront of education
provision, NTU was looking for a modern, efficient Student
Information solution that improves student outcomes and experience,
while providing a better experience for the University's staff and
more efficient use of their internal resources. Our comprehensive
solution covers the complete student journey, from pre-admission
through to graduation, with the offering including SITS in the
Tribal Cloud, and Tribal Edge products, as well as Tribal Student
Marketing & Recruitment and Tribal Student Support &
Welfare. The breadth of services provided validates Tribal's
strategy to provide complete, integrated Student Information
solutions, managed in the public cloud.
Over recent years, South East Asia has seen rapid growth in
Higher Education and now totals over 1,000 institutions. Tribal has
a strong presence in the region, with several existing customers in
Malaysia; including Malaysia's largest public university, The
University of Malaya, and the Universiti Teknologi Petronas (UTP),
a leading private research university. Tribal employs 150 people in
Manila, Philippines, as well as having recently established a
Global Delivery Centre in Kuala Lumpur. The Group will continue to
invest in the South East Asia region to further build out its
presence, including technical and professional services.
Mark Pickett, CEO of Tribal Group, commented: "Not only is this
a strategically significant win; confirming the validity of our
cloud transition strategy and our market leading position in South
East Asia, but it is also the largest SITS contract secured in the
history of the Group, adding approximately GBP1.2m in Annual
Recurring Revenue. We are delighted to be partnering with NTU to
deliver their vision of an empowering and engaging student
experience. South East Asia presents an exciting area of future
growth for Tribal and with our presence already established in the
region, we look forward to building on this win in the years
ahead."
Tribal Group plc Tel: +44 (0) 117 311 5293
Mark Pickett, Chief Executive Officer
Paul Simpson, Acting Chief Financial
Officer
Ken Lewis, Company Secretary
Investec Bank plc (NOMAD & Joint Tel: +44 (0) 20 7597 5970
Broker)
Sara Hale, Virginia Bull, Will
Godfrey
N+1 Singer Capital Markets Limited Tel: +44 (0) 20 7496 3000
(Joint Broker)
Shaun Dobson, Tom Salvesen, Alex
Bond
Alma PR Tel: +44 (0) 203 405 0205
Caroline Forde, Robyn Fisher, Josh
Royston, Molly Gretton
About Tribal Group plc
Tribal Group plc is a pioneering world-leader of education
software and services. Its portfolio includes Student Information
Systems; a broad range of education services covering quality
assurance, peer review, benchmarking and improvement; and student
surveys that provide the leading global benchmarks for student
experience. Working with Higher Education, Further and Tertiary
Education, schools, Government and State bodies, training providers
and employers, in over 55 countries; Tribal Group's mission is to
empower the world of education with products and services that
underpin student success.
This Statement has been prepared for and is addressed only to
our shareholders as a whole and should not be relied on by any
other party or for any other purpose. Tribal, its directors,
employees, agents or advisers do not accept or assume
responsibility to any other person to whom this Statement is shown
or into whose hands it may come and any such responsibility or
liability is expressly disclaimed. This Statement may contain
forward-looking statements. Any forward-looking statement has been
made by the directors in good faith based on the information
available to them up to the time of approval of this Statement and
should be treated with caution due to the inherent uncertainties,
including both economic and business risk factors, underlying such
forward-looking information. To the extent that this Statement
contains any statement dealing with any time after the date of its
preparation, such statement is merely predictive and speculative as
it relates to events and circumstances which are yet to occur and
therefore the facts stated and views expressed may change. Tribal
undertakes no obligation to update these forward-looking
statements.
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END
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