Redcentric in contract extension and new win

Redcentric, an end-to-end managed service provider, has extended its managed service contract with an unnamed property developer, as well as announcing a new ICT project and maintenance contract win with a leading media business.The managed service contract, which was originally valued at approximately £4.7m of revenue over the course of the three-year contract, has been extended for a further two years increasing the value of the total contract by a further £3m. The group said that while most of this revenue will fall outside of the current financial year this type of contract will "contribute significantly" to Redcentric's growing annuity base and "validates the quality and breadth of its end-to-end services".Meanwhile, the new deal will see Redcentric provide hardware installation and consultancy as well as support over three years in a deal worth approximately £0.94m over the course of the contract.Fraser Fisher, Chief Operating Officer, said: "It is extremely pleasing to announce the significant extension of an important contract at such an early stage in the initial contract period, as well as another new three year contract. Redcentric's consultancy services have been crucial to both wins and these multi-year contracts are a testimony to the high level of service provided by Redcentric and the faith our customers have in our long term ability to deliver their mission-critical services."NR