Transformational deal for ServicePower

House broker FinnCap believes that AIM-quoted field services management software provider ServicePower Technologies has potentially signed a transformational multi-year licence and revenue share deal with warranties and speciality insurance firm Assurant. Assurant's subsidiary, Federal Warranty Service Corporation, will use the software to manage and schedule repairs and services. Assurant already uses the company's software but the agreement extends its range to the management of claims and despatch. ServicePower should receive $4m in licence and support revenues over five years. Assurant has many large retailers as its customers and the more that use the system the greater the amount of money generated for ServicePower, which receives 50% of revenue from transactions processed by Assurant on behalf of its customers. ServicePower is already negotiating with two US retailers.