Innovation signs seven-year contract with UK insurer

Software solutions provider Innovation Group has signed a new contract with a UK insurer to provide its supplier management solution product, Innovation Symbility.The company said that the contract would run for a period of seven years and would be charged on a transactional basis which would generate revenues of approximately £1.0m per annum. Andy Roberts, Chief Executive Officer of Innovation Group commented: "I am delighted that Innovation Symbility has been selected for its software and services as a partner of choice. The combination of leading technology and product expertise demonstrates Innovation Group's ability to establish long term partnerships with the world's largest carriers." Innovation Group's share price was unchanged at 25.50p at 10:47 on Friday.MF