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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
