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Contract Wins and Joint Ventures

adept4 contract extension

05 July 2016 09:29

adept4, the AIM listed provider of 'IT as a Service', has agreed a new contract with an existing customer which will run until May 2026 and will be worth in excess of £6 million in total revenue.

The service based organisation has been a customer of adept4 since early 2014, and entered into a seven year contract for services in September 2014 worth a minimum of £2.5 million in total revenue.

Since that time the scope of services provided to the customer has increased and monthly charges have risen materially above the minimum level set in this contract.

adept4 currently provides a range of services incorporating IT Helpdesk user support, infrastructure support services (including cloud services), Microsoft SPLA licencing, Microsoft Office 365 and data connectivity - the very definition of ITaaS.

In order to facilitate closer collaboration in the future, both parties were happy to replace the existing contract with a new, long-term contract, which has resulted in a ten-year contract that will run until 2026.

Executive chairman Gavin Lyons said: "We are delighted to be able to announce this new contract with an existing customer. It demonstrates the Group's ability to grow profitable, long-term relationships, which benefit both parties and reflect the high level of service we deliver to our customers."

At 9:29am: (LON:AD4) Adept4 Plc Ord 1p share price was +0.63p at 7.38p

Story provided by StockMarketWire.com

Related Company: AD4

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