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LONDON - Crimson Tide plc (TIDE) has secured a three-year contract extension worth £3.88 million with one of the world's largest retailers, the company announced Monday.
The renewed agreement extends and expands the deployment of Crimson Tide's mpro5 process management app, which is currently used across more than 3,000 retail locations in the UK and Ireland.
According to the company's statement, the mpro5 platform currently supports over 30 distinct services across the retailer's sites. The platform has reportedly enabled the retailer to consolidate multiple legacy systems and replace competitor solutions.
The contract renewal comes as part of the retailer's digital transformation strategy through 2026 and beyond, with the company noting that ongoing investment in analytics, AI, and communications capabilities within the mpro5 roadmap continues to support the retailer's operational modernization efforts.
"We are delighted to extend and expand our relationship with such a long-standing and prestigious customer," said Jon Clarke, Chief Executive Officer of Crimson Tide plc, in the press release.
The company also stated that four of its five largest customers by revenue have signed renewal agreements in the current financial year.
Crimson Tide, listed on the London Stock Exchange, provides the mpro5 platform which is designed to help businesses manage operational processes.
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