(Sharecast News) - Billing, charging and customer relationship management software company Cerillion announced the signing of a significant contract valued at €12.4m on Thursday with an unnamed tier-one telecommunications provider based in Europe.
The AIM-traded firm said the contract was awarded following a rigorous selection process, with Cerillion having already started replacing the existing separate legacy platforms with its integrated solution.
Under the contract, Cerillion would provide and implement core elements of its flagship solution, including billing, charging, fulfilment and product catalogue, on a software-as-a-service (SaaS) basis for an initial term of five years.
Cerillion said it also saw the potential for further development in the new customer relationship.
"We are delighted with this new customer win, which is with a tier-one European telecommunications provider," said chief executive officer Louis Hall.
"It is 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."
At 0936 GMT, shares in Cerillion were up 5.1% at 1,340p.
Reporting by Josh White for Sharecast.com.
Cerillion (CER)