(Alliance News) - Cerillion PLC on Thursday said it signed a "major" new contract with an unnamed tier-1 telecommunications provider based in Europe.
The London-based billing, charging and customer relationship management software solutions provider said the contract was worth an initial EUR12.4 million.
"The new customer contract was secured after a rigorous selection process, and work has commenced to replace the existing, separate legacy platforms with Cerillion's single, integrated solution," Cerillion said.
The company added that key criteria in the selection process were the commercial, operational and financial advantages that its "out-of-the-box" product model offered. "Cerillion's single product approach confers all the major benefits of a customised solution without the significant cost and integration risks associated with a bespoke approach," it said.
Chief Executive Officer Louis Hall said the contract was "another indication that our model of providing a single, out-of-the box solution suite with powerful capabilities that are constantly updated - rather than customised bespoke solutions - is gaining increasing market awareness and appeal. We look forward to a productive and deepening relationship with our new client."
Cerillion shares rose 6.5% to 1,357.50 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Cerillion (CER)