Released: 06/01/2009
com:20090106:RnsF1437L
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RNS Number : 1437L
Spiritel PLC
06 January 2009
06 January 2009
SPIRITEL PLC
("SpiriTel" or "the Company")
CONTRACT WIN
SPIRITEL WINS PRIVATE VOICE NETWORK CONTRACT WITH
MAJOR INTERNATIONAL HOTEL GROUP, INCREASES RECURRING REVENUE
SpiriTel Plc, (AIM:STP), the business communications service provider, is
pleased to announce that it has won a major private voice network contract with
a leading international hotel group. The two year deal, expected to generate
£600,000 of revenue, is a significant cross selling success for SpiriTel who
will replace BT as the provider of the customer's private UK voice service. In
addition, the customer has renewed a three-year maintenance agreement with the
Company, which is expected to generate over £2 million of revenue.
This contract win is further evidence of the successful delivery of SpiriTel's
"acquire, integrate and grow" strategy, with organic growth being driven from
cross-selling the Group's expanded product range covering fixed, mobile, data
and networking services. The contract brings the total of cross-sales orders to
over £2 million since the April 2008 year end. SpiriTel is also in negotiations
to provide an additional, UK-wide voice replacement service covering all the
customer's sites.
Commenting on the new contract win and renewal, Alastair Mills, CEO of SpiriTel
said: "Following the renewal of their maintenance contract, we were delighted to
be awarded a major contract to replace a BT service for this customer, one of
our existing global hotel customers. This is another significant cross-sell for
the Group, delivering on one of our key strategic objectives. In addition, the
deals increase the level of earnings visibility and cash generation in the
Group.
"We are operating in a particularly challenging economic environment. However,
we expect this to create ongoing opportunities for SpiriTel as customers assess
cost saving opportunities more closely. We have a track record of providing cost
effective solutions that enhance productivity for customers and, with our
expanded product portfolio, we can now provide the full range of converged
services that our customers are seeking."
For further information please visit www.spiritelplc.com or contact:
SpiriTel plc Tavistock Communications FinnCap
Alastair Mills Simon Hudson Geoff Nash
Chief Executive Duncan McCormick
Tel: 020 7160 0100 Tel: 020 7920 3150 Tel. 020 7600 1658
Notes to Editors
SpiriTel is a business communications group which is taking advantage of the
opportunities created by rapidly changing telecoms markets in the UK as the
migration to Internet Protocol (IP) based services accelerates. The Group is a
consolidator of the highly fragmented UK telecoms reseller market and is
building a substantial customer base and scale through selective
earnings-enhancing acquisitions. We are organised into two divisions, SpiriTel
Technologies - focused on our infrastructure and IP products and services - and
SpiriTel Business, which provides our fully integrated range of voice and data
services direct to business customers.
Today, the Group offers a broad range of voice and data communications products
and services to a customer base of small and medium sized enterprises and an
increasing number of larger national and international organisations. We are a
recognised leader in the provision of new, but proven, Voice over IP (VoIP)
solutions that are firmly based on the old-fashioned service values, which run
throughout the Group.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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