19 Dec 2011 07:00
19 December 2011
Escher Group Holdings plc ("Escher") announces contract win with
'Haypost', the National Postal Operator of the Republic of Armenia
Escher, a world leading provider of outsourced, point of sale software to the postal industry, is pleased to announce that its Riposte Essential product has been selected as part of the programme to modernise the Armenian Postal Sector.
'Haypost', the National Postal Operator of the Republic of Armenia, will roll out Riposte Essential across its postal network during 2012. The contract, providing for the licence, service and maintenance, is worth at least US$1.5 million across the initial five year life of the contract.
Riposte Essential is a comprehensive retail management solution. The product is currently used by postal operators across the globe and underpins some of the most demanding transactional environments worldwide.
Commenting on this win, Liam Church, Escher's CEO said: "We are delighted that 'Haypost' has chosen Escher Group to be its software supplier. Our product will give the Armenian post office the flexibility it requires to respond to the changing business environment that many companies are experiencing.
"This contract win underpins a year of hard work by all the team here at Escher that saw us listing on the AIM market of the London Stock Exchange in August. This contract is the first of a few opportunities that we are progressing towards completion in the near term."
For further information please contact:
Escher www.eschergroupholdings.com +353 (0) 1 479 0555
Liam Church, Chief Executive Officer
Fionnuala Higgins, EVP Sales & Marketing
Trevor McIntyre, Finance Director
Panmure Gordon +44 (0) 20 7459 3600
Andrew Godber / Callum Stewart, Corporate Finance
Hannah Woodley, Corporate Broking
Powerscourt +44 (0)20 7250 1446
Paul Durman / Nick Dibden / Victoria Ward
About Escher
Escher is a world leading provider of outsourced, point of sale software to the postal industry. Escher's core software, Riposte, provides a solution for postal authorities who are seeking to counteract a decrease in traditional mail revenue by expanding revenue opportunities through new services, thereby reducing cost and increasing efficiency.
Postal authorities' software requirements have become more complex, leading to a growing trend towards outsourcing. Riposte is already in use in 30 countries and territories worldwide. It is licensed for over 150,000 workstations.
Substantially all of Escher's existing customers are national postal authorities including An Post in Ireland, Austria Post, Deutsche Post, Norway's Posten and SAPO in South Africa. The Group services these customers from their offices in Ireland, South Africa, Singapore, the United Kingdom and the United States.
Long licence and maintenance contracts and repeat business from quasi governmental customers give Escher good visibility of high quality earnings.
The Group is targeting continued growth through incremental sales to existing customers, new sales within the postal industry, penetration of new vertical markets and through the launch of its revolutionary new product, RiposteTrEx.