Innovation signs seven-year contract with UK insurer

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Software solutions provider Innovation Group has signed a new contract with a UK insurer to provide its supplier management solution product, Innovation Symbility.

The company said that the contract would run for a period of seven years and would be charged on a transactional basis which would generate revenues of approximately £1.0m per annum.

Andy Roberts, Chief Executive Officer of Innovation Group commented: "I am delighted that Innovation Symbility has been selected for its software and services as a partner of choice. The combination of leading technology and product expertise demonstrates Innovation Group's ability to establish long term partnerships with the world's largest carriers."

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Innovation Group's share price was unchanged at 25.50p at 10:47 on Friday.

MF