Altitude Group PLC Partnership Agreement (7737R)
September 26 2017 - 2:01AM
UK Regulatory
TIDMALT
RNS Number : 7737R
Altitude Group PLC
26 September 2017
26 September 2017
ALTITUDE GROUP PLC
(the "Company" or "Altitude")
Channl Partnership Agreement
Altitude Group plc (AIM: ALT), the operator of a leading
marketplace for personalised products, is pleased to announce that
it has enhanced and extended its partnership agreement with AI
Mastermind ("AIM"), a leading buying group serving 1,400
promotional product resellers in the US. The highlights of the new
agreement include:
-- Altitude's comprehensive CRM and sales order management
system being integrated with the Channl ecommerce platform enabling
AIM's members to benefit from an industry specific, cloud based,
end-to-end order management system
-- the integrated system will allow both ecommerce and
non-ecommerce transactions to be processed through Channl
-- the platform will be provided to AIM for free with Altitude
receiving a share of the throughput revenue from both ecommerce and
non-ecommerce transactions
-- active engagement with and education of AIM with respect to
the benefits available to all stakeholders by using the Channl
platform will incentivise AIM to roll out the Channl model to its
1,400 distributor members resulting in faster and more
comprehensive take-up of Channl by end users
-- the partnership agreement has been extended to September 2020
Since the initial partnership was announced in August 2016,
Altitude has created over 950 Channl websites for the 1,400 AIM
distributor members, each of whom are substantial distributors in
the US with revenues ranging from an estimated $0.5 million to $3
million. In total the 1,400 AIM distributors account for an
estimated $1.2 billion of end user revenue. The websites are ready
to use and, while the 1,400 AIM members are aware of their
existence and the potential of Channl's capabilities, the initial
feedback from them was that it needed to be integrated with a
powerful CRM and order management tool. The extension to the
partnership announced today will add both of these to the existing
Channl platform and AIM will be actively working with their members
to ensure that they are educated as to Channl's improved
capabilities and to ensure that they understand the benefits
available to them by adopting the platform going forwards.
Peter Hallett, Executive Chairman of Altitude, commented: "We
are delighted to have enhanced and extended our Channl partnership
with AI Mastermind. This upgrade to the offering is the result of
months of collaborative work and we are confident that this fully
integrated platform will provide the end-to-end service required by
the distributors and end users while at the same time providing the
necessary incentives to ensure that all stakeholders benefit from
encouraging engagement throughout the order chain.
Enquiries:
Altitude Group plc
Peter Hallett, Executive
Chairman 07887 987469
finnCap ltd 020 7220 0500
Jonny Franklin-Adams (Corporate
Finance)
Scott Mathieson (Corporate
Finance)
Richard Chambers (Corporate
broking)
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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