16 Jul 2019 07:00
16 July 2019
Big Sofa Technologies Group plc
("Big Sofa Technologies" or the "Company")
Service agreement and revenue acquisition from a second global technology company in 4 months
Big Sofa Technologies (AIM:BST) announces a further service agreement with a global technology company based on the West Coast of the US for its proprietary, video-based collaboration system, along with an initial commission under that service agreement.
This service agreement is the second such agreement with a US based global technology company in the past 4 months, the first having been announced in March 2019. Both companies have now commissioned introductory projects under their respective service agreements, with an overall initial aggregate value of over $100k. These commissions mark further progress against the Company's objective of extending beyond retail and consumer packaged goods into the technology and digital sectors.
Kirsty Fuller, Chief Executive Officer of Big Sofa Technologies, commented:
"In the Final Results Announcement from March 2019, I outlined the three pillars to Big Sofa Technologies' strategic roadmap: integration with key Ipsos service lines and technologies, Visual Insight System delivery to end clients and automated data extraction for large data companies.
Securing two new Master Service Agreements and revenue in the technology space signals progress against the second pillar. Our Visual Insight System is a dynamic platform for knowledge sharing, video data re-mining, collaboration and connection. It is our core direct-to-client product offering. Service Agreements with leading global tech companies are a validation of our own market-leading technology and strengthen our foundation for H2 growth."
Enquiries:
Big Sofa Technologies Group plc |
|
Kirsty Fuller, CEO |
|
Joe MacCarthy, CFO |
|
|
|
Arden Partners plc (Nominated Adviser and Joint Broker) | +44 (0)20 7614 5900 |
Paul Shackleton / Ben Cryer Aimee Kerslake (Equity Sales) |
|
|
|
Novum Securities (Joint Broker) | +44 (0)20 7399 9427 |
Colin Rowbury |
|
|
|
About Big Sofa Technologies Group plc
Big Sofa Technologies is an insight-led technology company. The design and development of our technology has been guided by expert understanding of the insight and analytics industries and the needs, pressures and business questions of the clients they serve.
We uncover and analyse new-to-the-industry behavioural data sets in video, enabled by the power of our pioneering data capture and platform technology. We are innovating both in how video-led projects and programmes are designed and in how the data is analysed, showcased, embedded and re-mined.
Our software platform collates, analyses and organises large volumes of raw/unstructured video enabling our clients, which include leading market research and data companies and major household brands, to perform detailed and sophisticated consumer insight analysis and make genuine use of video content.
Big Sofa Technologies' shares are admitted to trading on the London Stock Exchange's AIM market under the ticker BST.L.
To find out more, visit www.bigsofatech.com
Follow us on twitter at @bigsofatech