Proactis scores three-year contract with North American oil and gas outfit

Spend management solutions group Proactis has scored a three-year contract with an unnamed North American oil and gas services business.

Proactis said on Wednesday that the contract was a "strategically important milestone" for the company, being the first new customer in North America to sign up under its new go-to-market strategy.

The AIM-listed firm highlighted that the mystery customer, which provides coil tubing needs to oil drilling companies across six locations in North America, had selected it to deliver its sourcing and supplier management requirements.

Chief executive Tim Sykes said: "We have now demonstrated that our go-to-market strategy, our positioning and our solutions are relevant for our target market segment in each of the territories that we operate in.

"Whilst conscious that the pandemic continues to impact the pace of our progression, we grow more confident in our assessment that the market opportunity for Proactis in each of the US, France and Germany is as great as it is in the UK and the Netherlands."

As of 0820 GMT, Proactis shares were up 1.09% at 50.80p.