Escher Group Holdings Share News (ESCH)

Escher Group, the AIM-listed point-of-service software provider to the postal industry, has reported the extension of its contract with Norway's national postal service operator, Posten Norge, until the end of 2016. The contract will be worth $4.0m over three-and-a-half years, with the option to further extend the maintenance agreement for an additional two years. Initially appointed in 2004, Escher's Riposte technology supports Posten Norge's point of service network, enabling its multi-channel infrastructure and providing the functionality required by the post to operate its business with an efficient and expanding offering. Liam Church, Chief Executive Officer of Escher Group, said: "This third contract extension in recent weeks is a strong endorsement of the capabilities and reliability of our technology, from one of our key European customers." He added: "We are proud to enable Posten Norge to grow its business in a rapidly changing and competitive industry. We provide our customers with the solutions to quickly adapt to the changing point of service needs for their business and to interact and engage with their customers efficiently." Escher's share price was up 3.45% to 225p at 11:33 on Tuesday.MF