Cerillion signs new £10m contract with existing client

The AIM-traded firm said the new deal, for a term of 10 years, would support current market forecasts, and would see the customer upgrade to ‘Cerillion 23.1’ and join the ‘Evergreen Software Programme’.

It said the customer had extended its software licence and support agreements to facilitate future growth, with Cerillion's latest product developments made available to them through the programme.

The telecoms company had already been in a long-standing relationship with Cerillion, the board added, spanning more than two decades.

“We are delighted to be deepening our relationship with this important customer,” said chief executive officer Louis Hall.

“The company has chosen to broaden its take-up of our modules and services.”

Hall said the pre-integrated modules could be adopted together for a “fully comprehensive solution”, or used individually for certain functions.

“As this major new contract demonstrates, over time, we typically find that customers that have originally selected elements of our offering go on to adopt more modules, given the attractive commercial and operational benefits.”

At 1429 BST, shares in Cerillion were up 2.24% at 1,140p.

Reporting by Josh White for Sharecast.com.