Smartspace Software PLC Contract Win with Leading International Bank (6921I)
28 November 2018 - 6:01PM
UK Regulatory
TIDMSMRT
RNS Number : 6921I
Smartspace Software PLC
28 November 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
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28 November 2018
SmartSpace Software Plc
("SmartSpace" or the "Company" or the "Group")
Contract Win with Leading International Bank
SmartSpace Software Plc, (AIM:SMRT), the leading provider of
'Workspace Management Software' for smart buildings, commercial
spaces and hospitality, is delighted to announce that it has won a
contract with a leading international bank. The contract involves
an on-premise platform solution of SmartSpace's integrated
workspace management software that is capable of being deployed
across the client's entire global corporate real estate portfolio,
covering more than 60 markets and specific application services.
The application services as part of this initial agreement include
desks and mobile users in one location, together with meeting rooms
which cover a greater number of the client's locations.
Contract Highlights:
-- The initial engagement includes a five-year license for the
Workspace Management Software Applications and platform, with
professional services enabling deployment and configuration of the
on-premise solution
-- This deployment will consist of fully integrating a native
mobile application with meeting rooms, desk management and space
visualisation & analytics
-- The five -year contract includes the option to expand the
engagement to introduce additional services across the client's
operations on country by country basis, subject to the client's
requirements
-- The license value of the contract is expected to be
recognised in the current financial year in accordance with
accounting standards subject to meeting the contract's
obligations
-- This platform, including the initial application services,
will start to be delivered within the current financial year with
the services expected to be 'live' by July 2019
Background to the Contract
SmartSpace and the international bank have worked together over
the last few months to create a software solution which is
specified to the bank's specific requirements. With 86,000
employees across more than 60 markets and a portfolio of close to
2,000 meeting rooms across its office and branch estates, the bank
is committed to greatly improving its 'Employee Experience' as part
of its global Workplace strategy. Thus, with the smart software
know-how to be provided by SmartSpace, the bank is investing in a
cutting-edge workspace management software system, to be able to
have the potential capability to provide a truly smart solution for
its employees.
Commenting on the announcement, Frank Beechinor, CEO of
SmartSpace said: "We are pleased to be announcing a further new
major contract. Our technical and operational team has been working
with this leading international bank's in-house CRE team over the
last few months, which has successfully culminated in now being
able to announce this significant contract to the market. This
contract is significant due to the ambitious roll-out plan to
deliver the on-premise platform solution in 2019 and also due to
the commitment of this client to work with SmartSpace for a minimum
of five years. We are confident that the fully integrated workspace
solutions platform we will be implementing will have a major impact
on the bank's operational efficiency and will, if fully deployed
across all the bank's locations, offer a significant overall
improvement of its employees' experience. We look forward to
building a successful and long-term relationship with one of the
world's leading international banks."
End`
Enquiries
SmartSpace Software Plc via Lisa Baderoon
Frank Beechinor, CEO - Head of Investor
Bruce Morrison, CFO Relations
Lisa Baderoon (Head of Investor Relations)
lbaderoon@smartspaceplc.com +44(0) 7721 413
496
N+1 Singer (NOMAD & Sole Broker)
Shaun Dobson, Head of Corporate Finance +44 (0) 20 7496
Lauren Kettle, Corporate Finance 3000
About SmartSpace Software Plc
SmartSpace Software plc is a SaaS-based technology business,
designing and building software for occupancy management and space
optimisation. Our products help people work smarter and more
efficiently and to maximise the utilisation of their corporate real
estate. The Company's software solutions in workspace, retail and
hospitality help transform employee and customer engagement with
modules which include: desk management, meeting room management,
wayfinding, car parking, visitor management, frictionless vending
and analytics.
For more information go to: www.smartspaceplc.com
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END
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