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17 Oct 2018 07:00
17 October 2018
Pelatro Plc
("Pelatro", the "Company" or the "Group")
Pelatro selected to provide Loyalty Management Solution to Grameenphone of Bangladesh
Pelatro Plc (AIM: PTRO), the global Multichannel Marketing Hub software specialist, is pleased to announce that it has been selected the supply its Loyalty Management Solution to Grameenphone, the leading telco in Bangladesh with approximately 65 million subscribers and part of the Telenor Group of Norway.
Pelatro has already been supplying its Contextual Marketing Platform to three operating companies of the Telenor Group under a Global Framework Agreement (GFA), one of which was Grameenphone, pursuant to the acquisition of certain assets of the Danateq Group ("Danateq") in July 2018 (the "Acquisition"). The GFA was recently expanded to include the Group's Loyalty Management Solution, thereby deepening the engagement between Telenor and Pelatro.
As a direct result of the inclusion of the Loyalty Management Solution in the GFA, Grameenphone, which was evaluating several options, chose Pelatro as its partner for this key marketing activity. At the time of the Acquisition, the Company outlined the opportunity to sell multiple products to each of its customers, thereby making Pelatro a more relevant and embedded partner of the telcos. The Grameenphone deal supports the outlined strategy by the Company and is further evidence of the opportunity.
This contract also reinforces the confidence of the Company that it is in a strong position to sell the Loyalty Management Solution to other telcos, including existing customers of Pelatro in due course.
Commenting on this contract win, Subash Menon, Managing Director & CEO of Pelatro Plc said:
"We are delighted with this endorsement of our strategy and product from a leading telco like Grameenphone. This also shows clear evidence of the strategic rationale of the Acquisition and provides further confidence in the Company's strategy to expand its offering to existing and new customers"
For further information contact:
Pelatro Plc | |
Subash Menon, Managing Director & CEO | c/o IFC |
Nic Hellyer, Finance Director | |
finnCap Limited (Nominated Adviser and Broker) | +44 (0)20 7220 0500 |
Carl Holmes/Kate Bannatyne/Matthew Radley | |
IFC Advisory Limited (Financial PR and IR) | +44 (0)20 3934 6630 |
Tim Metcalfe/Miles Nolan/Zach Cohen |
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
Notes to editors
The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement principally to telcos who face a series of challenges including market maturity, saturation and customer churn.
Pelatro provides its "mViva" platform for use by customers in B2C applications, and is well positioned in the Multichannel Marketing Hub space (MMH) - this is technology that orchestrates a customer's communications and offers to customer segments across multiple channels to include websites, social media, apps, SMS, USSD and others.
Pelatro is expanding by a mix of organic and acquisition led growth. In August 2018 the Company completed the acquisition of certain assets of Danateq Pte Ltd (Danateq). This acquisition doubles the subscriber base to 325 million and brings immediate entry into Central Europe as well as a large recurring revenue base.
For more information about Pelatro, visit www.pelatro.com
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