Microlise Group, a provider of transport-management software, has announced that it has secured significant contracts with two of Australia's largest grocery retailers. This news has resulted in a rise in Microlise Group shares.
Contracts Highlight Company Growth
The first contract, valued at seven figures over a five-year period, was signed with a new Australian customer whose name remains undisclosed. This contract marks a major milestone for Microlise Group as it expands its geographical reach and strengthens its presence in markets outside the UK.
In addition to the new contract, Microlise Group has also expanded its engagement with another retailer, which is also unnamed. The expansion entails an incremental value of £850,000 ($1.1 million) and includes a five-year renewal.
Enhanced Product Offering
These contracts are not only significant in terms of financial value but also serve as a testament to the attractiveness and effectiveness of Microlise Group's transport-management software and enhanced product offering.
Microlise Group's Chief Executive, Nadeem Raza, expressed his excitement about the strategic importance of these contracts. He emphasized the company's growing presence in global markets and the validation of its software-as-a-service solutions across multiple target regions.
The positive response to this news is evident in the rise of Microlise Group shares, which were up 8.9% at 122.5 pence as of 0718 GMT.
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