Made Tech secures largest contract win to date

Data and technology services provider Made Tech Group said on Wednesday that it had been awarded its largest contract to date, worth approximately £7.0m over the next two years.

Made Tech said it had been awarded the contract by the Driver and Vehicle Licencing Agency for the provision of design, development and application support services, following on from the company's first contract with the DVLA awarded in October 2020 at a value of £3.0m.

The AIM-listed firm noted that the initial contract was awarded alongside another supplier, however, the DVLA has now chosen to move forward with Made Tech as a single supplier for the work.

Chief executive Rory McDonald said: "We are delighted to be further expanding our relationship with the DVLA through the award of this extensive contract, which will support our regional expansion and enable further investment into Wales.

"This is a great example of how much our clients value the work we deliver and of how our contracts are repeatable in nature and typically increase in size and scope. The contract award is also testament to the talent of our engineers and the quality of the work they have delivered to the DVLA since being first appointed just a year ago."

As of 1030 BST, Made Tech shares were up 2.84% at 141.40p.