US Postal Service is Escher's mystery new customer

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.

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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