LONDON (ShareCast) - (Sharecast News) - Software firm Cerillion said on Monday that it has signed two agreements with an existing European customer, worth a total of £17.3m.
Cerillion said the agreements were follow-on contracts to the major new services agreement, worth £8.0m, signed with the customer in May. Together, Cerillion said they were among its largest wins to date and supported existing consensus market expectations.

The AIM-listed group stated all three contracts related to the onboarding of the customer's newly-acquired, Tier-1 customer base onto its existing Cerillion BSS/OSS platform.

Cerillion said the contract's combined value of £25.3m was over an initial five-year term, with the two newer agreements covering software licences for the new customer base, maintenance, managed services and Cerillion's Evergreen programme, which provides ongoing access to the latest product enhancements.

Chief executive Louis Hall said: "We are delighted to announce these two contracts, worth a combined £17.3m, with an important major European customer. They make up the expected follow-on agreements to the initial £8.0m services contract that we signed with this client in May to migrate its newly-acquired, Tier-1 customer base to our solution.

"These agreements deepen and broaden our relationship with this significant customer and provide further high-profile, market validation of our product-centric approach, which enables clients to reduce costs, drive operational efficiencies and improve the customer experience. We view these agreements as strategically important for the group in our marketplace."

As of 0905 BST, Cerillion shares were up 7.13% at 1,510.50p.







Reporting by Iain Gilbert at Sharecast.com

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