LONDON (Alliance News) - Quindell PLC is understood to have missed out on a contract with roadside assistance and insurance company AA PLC, a blow for the company as it works to recovery after a turbulent 18 months, The Daily Mail reported.
Quindell, a controversial AIM stock which saw its value plunge following a critical report by a short-seller and amid investigations about its accounting processes, now focuses almost exclusively on telematics, or processing data from black boxes installed on vehicles by insurance companies.
The group formerly held a contract with AA rival RAC to install the black boxes in customers' cars and was hoping to replace this deal with one from the AA, but this is now set to be handed to Insurethebox, a Japanese rival of Quindell's.
http://www.thisismoney.co.uk/money/markets/article-3251278/Quindell-recovery-blow-misses-AA-contract-expected-Japanese-rival.html
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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