Mercia Technologies PLC Aston EyeTech secures multi-million pound contract
September 18 2018 - 2:02AM
RNS Non-Regulatory
TIDMMERC
Mercia Technologies PLC
18 September 2018
RNS Reach 18 September 2018
Mercia Technologies PLC
("Mercia")
Aston EyeTech secures a significant multi-million pound
contract
Mercia Technologies PLC (AIM: MERC), the national investment
group focused on the identification, creation, funding and scaling
of innovative technology businesses with high-growth potential from
the UK regions, is pleased to announce that Aston EyeTech Limited
("Aston EyeTech") has secured a multi-million pound product design,
development and manufacturing contract with one of the largest,
most successful and fastest growing optical retailers in the
world.
Aston EyeTech is revolutionising the eyecare industry through
increased portability, wider accessibility, lower costs and better
user experiences. The company marries game-changing ophthalmic
hardware with its proprietary AI software platforms to provide
leading edge technology solutions in the optical space.
Mercia, which holds an 18.7% direct equity stake in the business
and has worked with Aston EyeTech since 2013, initially invested
via its third-party managed funds before making its first direct
investment in November 2017. In addition to this major contract
win, over the last 12 months the business has launched its new
EYOTO(TM) brand of power-mapping lens visualizers.
Dr Mark Payton, Chief Executive Officer of Mercia Technologies,
said: "Aston EyeTech is another good example of our promising
direct investment portfolio, many of which are now in revenue
growth. I expect more positive developments from this business and
a number of our other direct investments in the near to medium
term, as the portfolio continues to mature."
For further information, please contact:
Mercia Technologies PLC +44 (0)330 223 1430
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial
Officer
www.merciatech.co.uk
Cenkos Securities plc +44 (0)20 7397 8900
Stephen Keys (NOMAD and Joint Broker)
Canaccord Genuity Limited +44 (0)20 7523 8000
Simon Bridges, Emma Gabriel (Joint
Broker)
Buchanan +44 (0)20 7466 5000
Bobby Morse, Chris Lane, Stephanie
Watson
www.buchanan.uk.com
About Mercia Technologies PLC
Mercia is a national investment group focused on the funding and
scaling of innovative technology businesses with high growth
potential from the UK regions. Mercia benefits from 19 university
partnerships and offices across the Midlands, the North of England
and Scotland providing it with access to high quality, regional
deal flow. Mercia Technologies PLC is quoted on AIM with the epic
"MERC".
Mercia's 'Complete Capital Solution' initially nurtures
businesses via its third-party funds (now with circa GBP400million
under management) and then over time Mercia can provide further
funding to its 'Emerging Stars' by deploying direct investment
follow-on capital from its own balance sheet. Since its IPO in
December 2014, Mercia has invested over GBP63million directly
across its portfolio of 'Emerging Stars'.
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END
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