PTY.L Regulatory News (PTY)

26 February 2019

Parity Group plc

("Parity" or the "Group")

Parity wins contract with the Department for Education

Parity (AIM:PTY), the data and technology focussed professional services business, today announces the award of a 2 year contract with the Department for Education (DfE). Parity has been appointed as the agile development partner to support the delivery of the ongoing digital transformation of the Funding and Contracting Service (FCS).

The FCS is part of the Education and Skills Funding Agency (ESFA) which delivers all school and further education funding in England. It is responsible for managing contracts with training providers and making approximately £6bn of payments to them per year.

Under this new contract Parity will work with the FCS so it develops to meet the ESFA's evolving needs, with the scope of work expected to include supporting the launch of new products, reshaping mature systems and ensuring effective interfaces with other ESFA systems. Parity, which brings 45 years of data and technology experience and skills, will work alongside the existing in-house digital team, based primarily in Coventry, to support and cover all of their digital service roles.

The award represents a total opportunity of up to £4.5m over the next two years for Parity strengthening the Group's order book and providing further visibility to underpin our current expectations for Group performance over the period.

Matthew Bayfield, CEO, commented:

"I am delighted to announce that the Department for Education has appointed Parity as the development partner for its Funding and Contracting Service's digital transformation, which builds upon our successful work with them in the past. This contract win is testament to our deep expertise and experience in this area and our ability to flexibly address the challenges facing major institutions as they undergo digital transformations, providing us with further confidence in our strategic focus and vision for the company."

--ENDS-