Escher Group, the provider of point of sale software to the postal industry, has revealed that the contract win announced on February 8th was with the United States Postal Service (USPS).
USPS awarded Escher Group the contract to provide Riposte licensing, maintenance and services as part of their Retail System Software (RSS) project.
The contract, which has a 54-month base period and renewal options, is expected to generate, over a fifteen-year term, around $50m in revenue for the group, but with scope for substantial additional revenue.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The first revenue from this contract win, worth around $4m, is expected this year ending December 2012, with increasing revenue in 2013 as the software is rolled out across the network.
The shares rose 18.5p to 255p on the announcement.
NR
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
