ServicePower Technologies Plc
(“ServicePower” or the “Company”)
Contract Win with Tier 1 Retailer worth minimum of £1.5m
Potential Total Value of £12.5m
First Partnership Agreement with Assurant Solutions
30 June 2011 - ServicePower Technologies Plc (AIM: SVR), a market leader in outsourced services and field management, is delighted to announce that a Tier 1 retailer has signed a contract for its software.
This is a new customer for ServicePower, and the contract is worth a minimum of £1.5 million in revenue in 2011. In addition, due to the part transactional nature of the implementation, the value of the contract could materially increase. There is also an option to extend the contract enterprise wide; this could lead to significant further revenues of up to £11 million in future years subject to the phased deployment plan.
This is the first contract ServicePower has won in partnership with Assurant Solutions, one of the world’s leading speciality insurance providers, and 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, commented, “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.”
For further information, please contact:
|ServicePower Technologies Plc||FinnCap||Threadneedle Communications|
|Tel: +1 410 571 6333||Tel: 0207 600 1658||Tel: 020 7653 9850|
|Mark Duffin, Chief Executive Officer||Marc Young||Caroline Evans-Jones|
|Charlotte Stranner||Fiona Conroy|
ServicePower Technologies Plc is a third party administrator for global field services which uses a fully integrated artificial intelligence based software platform to recruit independent contractors, comply with global regulatory codes, facilitate training, schedule service calls, conduct global retail/wholesale pricing analysis, and ultimately facilitate an optimal customer buying experience. ServicePower’s ServiceOutsource product is offered globally to end-consumer facing organisations in the retail, manufacturing, insurance, medical, and services industries providing the capability of offering quality installation services for their products through a network of professional, licensed, and insured independent contractors.
For more information please visit www.servicepower.com