6 Jun 2013 09:40
6 June 2013
Legendary Investments Plc
("Legendary" or the "Company")
Investee Company UpdateVirtualStock Limited Wins Landmark Contract
Legendary is delighted to announce that its investee company, VirtualStock Limited has signed a landmark three-year renewable contract with one of Britain's largest retailers.
The contract is to supply software as a service ("SaaS") which will enable the retailer to increase significantly its online presence by expanding its non-stocked product range supplied by hundreds of its drop-ship suppliers.
The VirtualStock solution will form a key component of the retailer's online technology infrastructure, providing its suppliers with a tool which enables them to manage fully the selling of their products through its corporate website.
The initial roll out of the service is scheduled in July and the agreement includes a number of phased extension options.
Zafar Karim, Executive Chairman of Legendary, said
"We are delighted for VirtualStock. Increasing online presence is currently the greatest single challenge facing the retail sector. VirtualStock has a world class, enterprise solution that we believe is unique in its ability to interface to any organisation's existing IT infrastructure. This contract win underlines the adaptability, robustness and scalability of the VirtualStock solution. We believe that this could mark the start of a very exciting period for VirtualStock."
- Ends -
For further information:
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Legendary Investments Plc | Zafar Karim / Thomas Reuner
| 020 8201 3536 |
Grant Thornton Corporate Finance
| Colin Aaronson/ Melanie Frean / Jen Clarke
| 020 7383 5100 |
Simple Investments
| Nick Emerson/ Andrew Thacker | 01483 413500 |
Newgate Threadneedle | Josh Royston /Caroline Evans-Jones | 020 7653 9850
|