Crimson Tide (TIDE)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

 2.05p
   
  • Change Today:
      0.000p
  • 52 Week High: 3.05
  • 52 Week Low: 1.85
  • Currency: UK Pounds
  • Shares Issued: 657.49m
  • Volume: 19,095
  • Market Cap: £13.48m
  • RiskGrade: 209

Crimson Tide wins new contracts, expands partnership

By Josh White

Date: Thursday 10 Feb 2022

LONDON (ShareCast) - (Sharecast News) - Crimson Tide announced both a substantial new contract win, as well as an "expansive" strategic partnership with Cisco Meraki on Thursday.
The AIM-traded mobility software company described the new, unnamed client as a "market-leading" contract catering company, which would use the 'mpro5' product to digitise its daily logbooks to maintain food safety standards.

It said the fully-digitised solution would be rolled out across the client's "several hundred" UK sites, with the total subscription contract value topping £0.4m across the initial term.

The board said the new strategic partnership, meanwhile, presented "great opportunities" for both the company and Cisco Meraki.

Crimson Tide's mpro5 platform would enable Cisco Meraki's internet-of-things (IoT) products to leverage data gathered from sensors and smart cameras for automation, action, visibility and business insight.

The combined solution was described by Crimson Tide as "highly versatile", and could be deployed in a variety of contexts.

It said mpro5 was being productised for the Cisco Meraki marketplace, which included 'smart schools', stations, data centres, coffee shops and quick service restaurants, and buildings.

The marketplace listing would be available to all Cisco Meraki partners, providing scope for further opportunities and partnerships.

Both parties were reportedly expecting the partnership to allow them to deliver "comprehensive and effective" solutions for their current customer base and reseller network, as well as new prospects globally.

"Our contract win continues to demonstrate the value of mpro5 in catering, an area where we now have a great understanding of the standards required in health and safety," said chairman Barrie Whipp.

"The key to our offering is the level of service we offer to our clients on an ongoing basis."

Whipp said he was "particularly pleased" with the new partnership with Cisco Meraki.

"Their global reach and the availability of the Cisco Meraki marketplace means that mpro5 is now able to reach markets outside our traditional geographies.

"We look forward to implementing mpro5 with Cisco Meraki sensors in a wide range of vertical markets."

At 1046 GMT, shares in Crimson Tide were up 12% at 2.52p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Crimson Tide Market Data

Currency UK Pounds
Share Price 2.05p
Change Today 0.000p
% Change 0.00 %
52 Week High 3.05
52 Week Low 1.85
Volume 19,095
Shares Issued 657.49m
Market Cap £13.48m
RiskGrade 209

Crimson Tide Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
25.23% above the market average25.23% above the market average25.23% above the market average25.23% above the market average25.23% above the market average
39.13% above the sector average39.13% above the sector average39.13% above the sector average39.13% above the sector average39.13% above the sector average
Price Trend
30.9% below the market average30.9% below the market average30.9% below the market average30.9% below the market average30.9% below the market average
44% below the sector average44% below the sector average44% below the sector average44% below the sector average44% below the sector average
Income Not Available
Growth
71.62% above the market average71.62% above the market average71.62% above the market average71.62% above the market average71.62% above the market average
58.33% above the sector average58.33% above the sector average58.33% above the sector average58.33% above the sector average58.33% above the sector average

Crimson Tide Dividends

No dividends found

Trades for 03-Oct-2022

Time Volume / Share Price
10:10 19,095 @ 2.10p

Crimson Tide Key Personnel

Finance Director Pieter Maree Hurter

Top of Page