(Alliance News) - Journeo PLC on Monday said that its Danish subsidiary, MultiQ A/S, has signed a service and support contract in Sweden with Grassfish AB.
Journeo is a Leicestershire-based transport system services provider, while Grassfish is a wholly-owned subsidiary of Vertiseit AB.
According to the terms of the contract, MultiQ will provide transport display hardware, installation and technical support services to Grassfish for up to six years. The deal has anticipated revenue of GBP300,000 per annum, with potential additional revenue from renewal sales and additional services.
"I am delighted that MultiQ and Journeo's Stockholm-based engineering team have been able to combine forces to secure this services and support agreement in the Skane region of southern Sweden. This is the first example of the partnership with Vertiseit and its subsidiary Grassfish delivering long-term recurring revenue from our engineering and technical support teams, and we look forward to building on the relationship over the coming years," said Chief Executive Officer Russ Singleton.
Journeo shares were trading 4.5% higher at 258.70 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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Journeo (JNEO)