Pelatro locks in contract with 'small' European telco

Software firm Pelatro said on Tuesday that it has secured a new contract with an unnamed "small southern European telco".

Pelatro said the contract was largely recurring in nature and was expected to contribute about $600,000 in revenue over three years.

The AIM-listed firm said the client, part of a large European telecom group, had chosen its mViva platform for campaign management operations.

Chief executive Subash Menon said" "We are delighted to sign up this new customer in Europe. This should further strengthen our activities and presence in Europe, paving the way for more contracts in the region".

As of 1030 BST, Pelatro shares were up 6.90% at 44.90p.