Altitude Group PLC Partnership Agreement (3934U)
October 24 2017 - 2:00AM
UK Regulatory
TIDMALT
RNS Number : 3934U
Altitude Group PLC
24 October 2017
24 October 2017
ALTITUDE GROUP PLC
(the "Company" or "Altitude")
Partnership Agreement
Altitude Group plc (AIM: ALT), the operator of a leading
marketplace for personalised products, is pleased to announce a new
two year Channl enterprise partnership with Drummond Press Inc
("Drummond") of Jacksonville Florida USA, one of the largest and
fastest growing managed print services groups in the south eastern
United States, incorporating established current promotional
products revenues of circa $3.0 million pa. The main features of
the partnership agreement are as follows:
-- The Channl platform technology will provide a promotional
product ecommerce platform for each of Drummond's approximately
14,000 existing end user customers
-- The Drummond Channl sites will feature a curated collection
of corporate personalised merchandise provided by Channl's supply
partners.
-- In addition, Altitude will provide its comprehensive CRM and
sales order management system. Both platforms will be provided to
Drummond in return for Altitude receiving a share of the throughput
supplier revenue from both ecommerce and non-ecommerce
transactions.
-- Drummond contracts to procure all promotional product
supplies through Altitude on an exclusive basis during the contract
term and route all current promotional product revenues either
through the ecommerce Channl platform or the
sales order management system provided under the partnership
agreement
Peter Hallett, Executive Chairman of Altitude, commented: "We
are delighted to have been chosen by Drummond to provide our unique
Channl technology and supply chain offering. Establishing this new
partnership with Drummond, a fast growing and forward-thinking
provider of managed print services demonstrates the attractiveness
of our Channl and existing CRM and order management solutions as a
free and compelling leading edge technology solution for businesses
for whom promotional products represent a substantial revenue
opportunity."
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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