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Crimson Tide

Crimson Tide surges as it unveils series of rail contract wins

The company said through its new partner channel it had won a contract from Arriva UK Trains subsidiary Chiltern Railways for its mpro5 business solution

Northern Rail train
The company had also won a subscriber agreement with Northern Rail

Shares in Crimson Tide PLC (LON:TIDE) surged in late-morning trading Thursday after the mobile data specialist unveiled a number of contract wins in the rail sector.

The company said through its new partner channel it had won a contract from Arriva UK Trains subsidiary Chiltern Railways for its mpro5 business solution to provide mobile auditing for train presentation.

Another subscriber agreement had also been signed with Northern Rail for mpro5 to assist with staff management and station presentation.

Crimson said the full value of the contracts amounted to nearly £250,000 and represented “a step forward in our engagement with the Rail and Transport industry”.

Barrie Whipp, executive chairman of Crimson Tide, said: "Following the development of our relationship with our partners we have entered another vertical market where mpro5 can deliver value and measurable ROI. With an expanding channel strategy we are able to get mpro5 in front of the right people, in the right context at the right time".

Shares were up 9.6% at 2.8p.

Quick facts: Crimson Tide

Price: £0.02

Market: AIM
Market Cap: £10.06 m
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Crimson Tide chairman outlines investment proposition

Barrie Whipp, the executive chairman of Crimson Tide (LON:TIDE), explains the business model and why the company’s margins are so high. It follows a 36-month contract win with Macdet Hygiene Services for the group’s mpro5 software.

on 30/10/14

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