Pelatro inks $1.6m supply contract with Maldives-based telco
Pelatro
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16:55 28/09/23
Marketing software outfit Pelatro has inked a $1.6m supply contract with Maldives-based wing of mobile network operator Ooredoo.
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Pelatro will give Ooredoo Maldives access to its mViva contextual marketing platform in order to assist the group in increasing revenues and customer engagement whilst reducing churn.
The AIM-listed outfit said the agreement will provide it with a fixed monthly fee in addition to a share of incremental revenues generated by Ooredoo Maldives from its customers.
Pelatro also noted that the contract provided it with "significant opportunity to cross-sell" into the wider Ooredoo group, which is headquartered in Qatar.
Chief executive Subash Menon said: "This latest contract win highlights the strength of our product and the company's ability to win new contracts from Telcos.
"We now have visibility of around $5.3m of revenue in 2019 and are delighted that this has been achieved so early in the year, giving the board increased confidence in the full-year."
As of 0830 GMT, Pelatro shares had picked up 3.92% to 86.25p.