Condat Expands Internationally With $A350,000 UK Contract
Sydney, Mar 1, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") is pleased to announce its wholly-owned Berlin based software solutions business, Condat AG, has finalised its first international contract in a deal worth over $A350,000 with one of the world's largest technology and communications companies.
- Maiden overseas contract - world-leading technology and communications customer
- Condat to deliver content management solution
- Initial contract worth $A350,000 by Q2 FY16.
- Further opportunities being explored.
The contract will see Condat use its Smart Media Engine to deliver a content management solution for the customer's video on demand services in what is expected to be the beginning of a long-term relationship with the new partner.
The international expansion by Condat, as well as the opportunity to provide core solutions to major communications and media groups, is a key element of Condat's growth strategy.
The project is expected to be completed in Q2 FY16 with the revenue realised during this period.
Invigor's Executive Chairman and CEO, Mr Gary Cohen said: "This is an important milestone for Condat as it extends its reach outside of Germany for the first time and establishes itself with a major new customer.
We will continue to explore such opportunities and take advantage of what we expect to be a significant new growth prospect for the Condat business."
Software solutions business Condat is the major provider of smart media solutions to public broadcasters in Germany and has projected revenue of approximately $A8.0m for 2016.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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