Business
Enterprise Level Technology Agreement
Enterprise Level Technology Agreement.
About this update from Altitude Group Plc
[{"type":"text","content":"\n \nRNS Number : 0973B Altitude Group PLC 14 June 2016 \n\n \nAltitude Group plc\n(\"Altitude\", the \"Company\" or \"Group\")\n\nEnterprise Level Technology Agreement\n \nAltitude Group plc, the provider of innovative technology solutions for small to medium sized businesses, is pleased to announce that its wholly owned subsidiary, Customer Focus Software Inc., has agreed a partnership with Aprinta Group (\"Aprinta\") based in Rochester, NY, USA, a leader in the provision of screen printing and promotional product supply to distributors, based in North America (the \"Agreement\").\nUnder the terms of the Agreement, Altitude will provide a technology solution to create over one million linked websites for Aprinta's distributor customers. Each of these e-commerce enabled sites will be automatically branded with the customer's logo or design using technology from the Group's Interactive Imaging business, including the patented ArtworkTool solution. In addition, Altitude will provide Aprinta with full visibility and editorial control across the entire customised website structure.\nIn return, Altitude will receive a share of the gross margin on revenue generated through the new website structure.\nThe agreement is for an initial five-year term, with automatic renewal for a further five years. The Directors expect the first websites to be in place towards the end of Q3 2016 and that the Agreement will not have an impact on the Group's results for the current year.\nPeter Hallett, Non-Executive Chairman of Altitude, said \"The estimated 130,000 promotional product salespeople in the USA previously had to rely on slow and expensive legacy solutions to provide a custom website for each of their customers, and this provided a barrier to growth in online trading for promotional products. Once Altitude generated websites go live, an improved overall experience will be available online and on demand, with a custom online store created in three clicks, and an engaging shopping experience delivered with full e-commerce capability in under a minute.\n\"We have previously announced that we were exploring ways to increase shareholder value by leveraging our comprehensive suite of protected and proprietary applications, and that our preference was to seek a share of revenue rather than a flat monthly fee for our servi...