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(Alliance News) - Rosslyn Data Technologies PLC on Tuesday said it has secured two new contracts worth GBP422,000 over a multi-year period.
The Portsmouth, England-based data management and analytics service provider said the first contract is from a "blue-chip European med-tech company."
The customer is adopting a procurement and spend analytics platform as it seeks to increase efficiency and reduce costs across its supply chain, Rosslyn explained.
The second contract is with an "international consultancy that provides services and solutions to the transport industry." It is using the Rosslyn platform on behalf of a UK train operating company.
Rosslyn said the contracts are worth GBP422,000 over a multi-year period, and equating to an additional GBP120,000 in annual recurring revenue.
Chief Executive Paul Watts said: "We are pleased to have won these two contracts - and less than a month into our new financial year. They represent the conversion of some of the pipeline that we were near to closing at the end of last year. To have secured another multi-billion-euro customer under a highly competitive pitch is a great endorsement. It also reflects the trend of companies increasingly adopting technology like ours to reduce risk and enhance efficiency in the supply chain."
Shares in Rosslyn were down 1.6% to 0.76 pence each in London on Tuesday afternoon.
By Sophie Rose, Alliance News reporter
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