Cerillion PLC Major new customer win with Tier-1 Telco (1164S)

TIDMCER

RNS Number : 1164S

Cerillion PLC

02 November 2023

AIM: CER

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Cerillion plc

("Cerillion" or "the Company")

Major New Customer Win with Tier-1 Telco

Cerillion, the billing, charging and customer relationship management software solutions provider, is pleased to announce it has signed a major new contract, worth an initial EUR12.4 million, with a Tier-1 telecommunications provider, based in Europe.

The new customer contract was secured after a rigorous selection process, and work has commenced to replace the existing, separate legacy platforms with Cerillion's single, integrated solution. Cerillion will be supplying and implementing the core elements of its flagship solution, including billing, charging, fulfilment and product catalogue, on a SaaS basis, for an initial 5-year term. Over time, Cerillion believes that this new relationship has the potential to develop further.

Key criteria in the selection process were the commercial, operational and financial advantages of Cerillion's 'out-of-the-box' product model. Cerillion's single product approach confers all the major benefits of a customised solution without the significant cost and integration risks associated with a bespoke approach. The ease with which Cerillion's software enables new products and packages to be brought to market was also a significant factor in the decision-making process for this new customer.

Louis Hall, CEO of Cerillion plc, said:

"We are delighted with this new customer win, which is with a Tier-1 European telecommunications provider. It is another indication that our model of providing a single, out-of-the box solution suite with powerful capabilities that are constantly updated - rather than customised bespoke solutions - is gaining increasing market awareness and appeal. We look forward to a productive and deepening relationship with our new client."

 
 Cerillion plc                     c/o KTZ Communications 
 Louis Hall, CEO                   T: 020 3178 6378 
 Andrew Dickson, CFO 
 
 Liberum (Nomad and Broker)        T: 020 3100 2000 
 Bidhi Bhoma, Ben Cryer, Matthew 
  Hogg 
 
 Singer Capital Markets (Joint     T: 020 7496 3000 
  Broker) 
 Rick Thompson, James Fischer 
 
 KTZ Communications                T: 020 3178 6378 
 Katie Tzouliadis, Robert Morton

About Cerillion

www.cerillion.com

Cerillion is a leading provider of mission critical software for billing, charging and customer relationship management ("CRM"), mainly serving the telecommunications market but also other sectors such as utilities and financial services. The Company currently has c.80 customer installations across c.45 countries. Headquartered in London, Cerillion also has operations in India and in Bulgaria.

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