Big Sofa Technologies Group PLC Global Agreement with Consumer Goods Multinational (7398H)
12 June 2017 - 4:00PM
UK Regulatory
TIDMBST
RNS Number : 7398H
Big Sofa Technologies Group PLC
12 June 2017
Embargoed: 0700hrs, 12 June 2017
Big Sofa Technologies Group plc
("Big Sofa" or the "Company")
Global Agreement with Major Consumer Goods Multinational
Big Sofa (AIM: BST), a fast-growing provider of video analytics
technology and services to brands and consumer insight agencies, is
pleased to announce that it has been approved as a 'Global Systems
Partner' to provide video research and technology services to one
of the world's largest consumer goods corporations, headquartered
in the USA (the "Client").
Following an extensive procurement procedure, Big Sofa is now an
approved supplier on the Client's global technology and research
rosters, undertaking projects for the Client to facilitate the
acquisition and analysis of both new and existing video content.
Previously, the Client had commissioned a number of projects
through an approved agency, but the level of demand for Big Sofa's
services across the Client's global business reached a level which
meant the Client wanted to commission multiple projects directly
with Big Sofa. The partnership is already contributing material
income to the Company.
The Client, which owns some of the world's best known brands
within the major consumer categories of healthcare, household and
beauty products, is increasingly incorporating video observation
techniques into its consumer insight activities to better
understand actual human behaviour. By capturing natural human
behaviour in the home (including through the use of live streaming)
and utilising Big Sofa's sophisticated video analysis technology,
the Client is able to interpret and analyse real behaviour to a
depth not previously possible in the consumer insight industry.
Simon Lidington, Chief Executive of Big Sofa, commented:
"This agreement is a significant endorsement of our video
analytics technology and highlights the global reach of Big Sofa as
our platform is now available to any of the Client's departments
anywhere in the world. The business we are already generating from
this partnership is further evidence of the pent-up demand from
brands or their research agencies for video analytics which unlock
the true value of video-based consumer research.
I am very excited by the momentum being generated in the
business. This Global Systems Partnership status follows the Global
Licence Agreement with leading market research agency, Ipsos, just
two months ago which is also beginning to contribute significantly
to revenues with projects being undertaken for blue chip
international clients."
Enquiries
Big Sofa Technologies Group via Vigo Communications
plc
Simon Lidington, CEO
Matt Lynch, CSO
Joe MacCarthy, CFO
+44 (0)20 3368
SPARK Advisory Partners (Nomad) 3554
Neil Baldwin / Mark Brady
+44 (0)20 7070
Hobart Capital Markets (Broker) 5656
Lee Richardson / Raju Haldankar
Vigo Communications (Financial +44 (0)20 7830
Public Relations) 9700
Jeremy Garcia / Ben Simons
/ Antonia Pollock
About Big Sofa Technologies Group plc
Big Sofa is a B2B technology business servicing the marketing
and consumer insight industries with video analytics.
Our software platform collates, analyses and organises large
volumes of raw/unstructured video content enabling companies to
perform detailed and sophisticated consumer insight analysis; and
make genuine use of their video content.
Until recently, video has been difficult and expensive to
capture, upload, store, manage and analyse as a consumer insight
tool. However, proliferation of smart phones has empowered
consumers to speak directly to brands resulting in an evolution of
consumer insight and data analytics techniques, with video emerging
as a key platform in a massive $33 billion consumer research
market.
Big Sofa's shares are admitted to trading on the London Stock
Exchange's AIM market under the ticker BST.L.
To find out more, visit www.bigsofatech.co.uk
Follow us on twitter at @bigsofatech
This information is provided by RNS
The company news service from the London Stock Exchange
END
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