2 Sep 2021 07:00
2 September 2021
Dev Clever Holdings plc
("Dev Clever" or "the Company")
Partnership with Aldebaron DMCC - definitive documentation signed
Dev Clever, a leading developer of online and immersive career guidance and development platforms and consumer engagement experiences is pleased to announce that further to the 21 June 2021 RNS, the detailed documentation of the first phase of the tactical partnership with Aldebaron DMCC ("Aldebaron") has now been agreed and signed.
Under the terms of the partnership and as part of the first implementation phase, the National Careers Challenge ("NCC") will be launched in the UK on 30 September 2021. Concurrently, plans for an Indian NCC are anticipated to be finalised in Q4 2021 for full scale launch during the first half of 2022.
Aldebaron has made specific revenue commitments to Dev Clever across the collaboration period for a minimum amount of US$50 million with the first phase being US$5 million to be accounted for in this financial year ending 31 Oct 2021 and subsequently in US$ million: 10 FY22, 15 FY23, 20 FY24.
Aldebaron is a Dubai based organisation focused on the distribution, delivery and implementation of consumer facing technology and next generation impactful digital solutions into emerging markets across the world. Its initial platform capabilities are expected to go live in Q4 2021.
Chris Jeffries, CEO Dev Clever, said:
"I am delighted to confirm that documentation for the first phase of our exciting partnership with Aldebaron is now complete. The rollout will generate minimum guaranteed revenues of US$50 million for Dev Clever over the next 4 years and we are excited about the imminent UK launch of the NCC at the end of September."
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
-ends-
For further information please contact:
Dev Clever Holdings plc Christopher Jeffries Chief Executive Officer and Executive Chairman Nicholas Ydlibi Chief Financial Officer | +44 (0) 1827 930 408 |
Novum Securities Limited - Financial Adviser and Broker David Coffman / Colin Rowbury | +44 (0) 20 7399 9400 |
Buchanan Communications Richard Oldworth / Chris Lane | +44 (0) 207 466 5105 |
Notes to Editors:
Dev Clever Holdings plc, together with its wholly-owned subsidiaries, is a software and technology group based in Tamworth, United Kingdom, specialising in the use of lightweight integrations of cloud-based VR and gamification technologies to deliver rich customer engagement experiences across both the education and commercial sectors. In January 2019, Dev Clever listed on the Standard List of the London Stock Exchange. The Group's core focus is the development and commercialisation of its core platforms - Educate (its primary focus) and Agency Services (its secondary focus).
Educate Division:
Through Educate, Dev Clever aims to reduce the global skills shortage by delivering an enhanced careers guidance service via its online platform, Launchmycareer.com, and virtual reality software (Victar VR). The business has established a global partnership with Lenovo to roll out its service worldwide, with offerings already on the market in the UK, US and Canada. Dev Clever is also focused on the Indian market and has partnered with its National Independent Schools Alliance (NISA) and content provider Veative to provide a comprehensive service offering within Indian budget private schools. Through this, the business has been developing and has launched a direct-to-consumer offering in India.
Agency Services:
The Company's Agency Services division provides customers from the retail, brand and hospitality sectors with bespoke application and customisation of the Group's proprietary cloud-based products in order to incentivise consumer participation, increase engagement, improve transactional efficiencies and enhance the user experience. The wealth of experience gained having successfully provided hundreds of digital consumer and employee incentive experiences for global brands, businesses and educators via the Company's proprietary platform, Engage, is now focused on enabling employers to better engage with existing employees to up-skill them and to identify their future workforce via the Launchmycareer.com platform. The division is being re-branded to Launchmycareer.com Professional Services.
For further information, please visit www.devcleverholdingsplc.com