Last checked at 6 Oct 2020 14:31
6th October 2020
Tribal Group plc
("Tribal" or "the Group")
Contract Win
Tribal (AIM: TRB), a leading provider of software and services to the international education market, today announces that it has signed a contract with Arden University for its SITS:Vision Student Management System. The contract is for five years and has a total contract value of £2m, including Annual Recurring Revenues of approximately £175k per year. There is an option to extend for an additional two years at the end of the initial contract period and then extend for a further two years beyond that.
The contract with Arden University is strategically significant as it is the third full system deal Tribal has closed this year and shows the continuing momentum in this part of the business.
Mark Pickett, Tribal's CEO, commented: "I am delighted that Arden University, a pioneering expert in the provision of flexible online learning has selected Tribal SITS:Vision to deliver their student management system. This will provide Arden with a functionally rich, modern, cloud-based solution to support the full student lifecycle from recruitment to graduation. With our cloud solutions, we are well-positioned to assist our customer, particularly as they cope with the challenge of the Covid-19 pandemic."
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Tribal Group plc | Tel: +44 (0) 117 311 5293 |
Mark Pickett, Chief Executive Officer Paul Simpson, Acting Chief Financial Officer |
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Ken Lewis, Company Secretary | Tel: +61 (0) 412 80 60 40 |
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Investec Bank plc | Tel: +44 (0) 20 7597 5970 |
Sara Hale Virginia Bull Will Godfrey |
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N+1 Singer Capital Markets Limited | Tel: +44 (0) 20 7496 3000 |
Shaun Dobson Tom Salvesen Alex Bond |
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About Tribal Group plc
Tribal Group plc is a pioneering world-leader of education software and services. Its portfolio includes Student Information Systems; a broad range of education services covering quality assurance, peer review, benchmarking and improvement; and student surveys that provide the leading global benchmarks for student experience. Working with Higher Education, Further and Tertiary Education, schools, Government and State bodies, training providers and employers, in over 55 countries; Tribal Group's mission is to empower the world of education with products and services that underpin student success.
This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed. This Statement may contain forward-looking statements. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements.
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