Last checked at 13 Aug 2020 11:29
13th August 2020
Tribal Group plc
("Tribal" or "the Group")
Contract Win
Tribal (AIM: TRB), a leading provider of software and services to the international education market, today announces that it has signed a A$10m (£5.5m) contract with the University of Sydney to provide the university with its SITS:Cloud service. The contract is for 5 years, with an option to extend 2 further years, and has an Annual Recurring Revenue value of approximately £0.5m per year.
Mark Pickett, Tribal's CEO, commented: "I am delighted that the University of Sydney, one of the world's leading universities, has selected Tribal's SITS:Cloud service for the provision of a critical student service. This will provide Sydney with the high quality and secure student administration service that is essential for an excellent student experience, a key ingredient for success in an increasingly competitive Higher Education market.
We see growing demand for cloud services in the Education sector, which may further increase as a result of the Covid-19 pandemic. Our SITS:Cloud service is uniquely positioned to assist customers in addressing those challenges."
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Tribal Group plc | Tel: 0117 311 5293 |
Mark Pickett, Chief Executive Officer Paul Simpson, Acting Chief Financial Officer |
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Investec Bank plc | Tel: 020 7597 5970 |
Sara Hale Virginia Bull Will Godfrey |
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N+1 Singer Capital Markets Limited | Tel: 020 7496 3000 |
Shaun Dobson Tom Salvesen Alex Bond |
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About Tribal Group plc
Tribal Group plc is a pioneering world-leader of education software and services. Its portfolio includes Student Information Systems; a broad range of education services covering quality assurance, peer review, benchmarking and improvement; and student surveys that provide the leading global benchmarks for student experience. Working with Higher Education, Further and Tertiary Education, schools, Government and State bodies, training providers and employers, in over 55 countries; Tribal Group's mission is to empower the world of education with products and services that underpin student success.
This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed. This Statement may contain forward-looking statements. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements.