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Crimson Tide PLC on Wednesday said it had agreed its first subscription contract for its mpro5 solution in the US. Crimson Tide shares were up 11% trading at 2.72 pence per share on Wednesday morning in London. The Tunbridge Wells, UK-based mobile data and software solutions provider said the three-year contact is worth more than £250,000. The company said it will implement its mpro5 as the building-wide smart app solution at its clients offices in San Francisco. The company said mpro5 will initiate smart actions from sensor readings in the building, which the Crimson Tide noted is the first ‘in a wider implementations of mpro5 in the US and other locations’. Crimson Tide added that the client is a global network solutions supplier, which will allow mpro5 to be demonstrated to the clients own existing and projected clients. Chair Barrie Whipp said: ‘This contract win is a landmark in its own right, validating our strategy to expand into the United States. The opportunity that it creates, however, is of much greater significance. Our client operates globally, and the use of mpro5 in its San Francisco office offers us the chance to demonstrate mpro5 in action for one of the world’s largest providers of IT networking. ‘The contract win verifies our strategy to standardize mpro5 and productise it for sale and use with third-party hardware and software. We hope that mpro5 will become an integral part of our client’s IoT strategy, allowing its partners to add mpro5 as an option in their sales process.’ Copyright 2023 Alliance News Ltd. All Rights Reserved.
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