eServGlobal (LSE: ESG.L & ASX: ESV.AX), a pioneering digital transactions technology company, announces it has secured a new three-year contract with existing customer, Ooredoo Algeria. The contract encompasses technology platform upgrades as well as three-years of support through to 2020.
eServGlobal has been a technology vendor to Ooredoo Algeria for more than a decade, facilitating all prepaid recharge requirements. As part of the new contract, eServGlobal will upgrade the technology platforms to the new releases of PayMobile for electronic recharge and VoMS for Voucher Management to facilitate a comprehensive recharge offering for the largely prepaid subscriber base.
James Hume, eServGlobal COO, said, Ooredoo Algeria is one of our longest standing customers and we have worked closely with them over many years. Im pleased to be able to share this clear sign of progress against our objective to create true business partnerships with our existing customers. This contract also further supports our commitments to building strong recurring revenue.
Imed Soussou, Ooredoo Algeria, CTO, said, Algeria is a growing and dynamic market with strong demand for new technologies. During the decade we worked with eServGlobal, we have seen the demonstrated ability of their technology, particularly recently, their commitment to support and engagement towards their customers. It is important for us to trust in our technology partners. We look forward to continuing this partnership as we work together to build technology solutions for Algerias future.
eServGlobal was awarded this contract based on the proven, in-field performance of its technology solutions as well as its commitment to work together with the operator.
Ooredoo Algeria is a leading telecommunication provider in the country, with more than 14 million customers, and is part of the Ooredoo Group, which has a presence in ten markets across North Africa, the Middle East and Southeast Asia. eServGlobal is currently working with Ooredoo Group affiliates in four countries.
eServGlobals flagship PayMobile platform is a highly reliable and open solution built on more than 30 years experience working with telecommunication operators.
Read Edison's note on ESERVGLOBAL, out this morning, by visiting https://www.research-tree.com/company/AU000000ESV3
"eServGlobal has brought recent negotiations for a major PayMobile contract to a successful conclusion, signing a five-year contract worth 6m. This supports current year revenue guidance and potentially marks the start of a recovery in the companys fortunes..."
"April continues to be, frankly, boring. Last week finished with the @GB:UKX:FTSE 100 failing to better our 6,225. Now, it makes sense to wonder how much damage will be done by the news that, the leader of our country having so much faith in the ..."
"THE FTSE THIS WEEK (FTSE:UKX) and eSERVEGLOBAL PLC (LSE:ESG) April continues to be, frankly, boring. Last week finished with the FTSE failing to better our 6225. Now, it makes sense to wonder how much damage the news of the leader of our ..."
they belong to Henderson until october 2017 if they manage to steer through that long.
3.5m in escrow still, ANB standing in the way, delays to higher margin sales, losses etc.
shame they managed to get into this mess.
who was/is responsible?
blundell now out of the picture but wasn't he a mover/shaker in the run up to this?
buck stops with shareholders though.
Edison initiated coverage with target price of about 30p if ESG keep market informed on progress and Homesend. Mentions lower cost base as helping. Potential 2x share price upside. Would tend to agree and see 25p as more than possible.
I take todays news as positive.
UK based, experienced, knows some major shareholders.
This and previous releases suggest relations with UK shareholders haven't been as close as ideally they should. This might encourage some new money to come in over time.
excess executive pay hasn't helped nor CEO jumping or, for all we know, being pushed.
they went from looking competent and well placed to looking opportunistic and risky.
not a good way to manage a company in this space.
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