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(Sharecast News) - Software firm Cerillion said on Monday that it has signed a "major new contract" with a national telecoms operator in the Caucasus region.
Cerillion said the contract, worth $11.4m, has an initial term of five years and has scope to expand further over time.
The AIM-listed group will provide its BSS/OSS software to support over 1.0m B2B and B2C customers across fixed, mobile, broadband and TV services. Implementation work has already commenced, while revenue benefits will start to come through during H2.
Chief executive Louis Hall said: "After a rigorous tender process, we are delighted to have been awarded this contract. It is another demonstration that our SaaS-based, productised approach is highly-attractive, both financially and operationally, when compared to traditional bespoke solutions.
"The decision over what approach to take for the enterprise software layer is a critical one. Our solution enables telcos to monetise their network infrastructure assets, increase revenue from their assets, enhance efficiencies and drive the customer experience at lower cost and more simply than other solutions."
As of 1000 GMT, Cerillion shares were up 4.43% at 1,650.0p.
Reporting by Iain Gilbert at Sharecast.com
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