Crimson Tide PLC
("Crimson Tide" or the 'Company')
Update on International Expansion
Crimson Tide (AIM: TIDE), provider of mpro5, Smart Mobility as a Service, is pleased to update the market on its progress with international expansion. As announced in the Company's Trading Update on 14 December 2016, we have begun to invest in international expansion following the success of our partnership in Ireland. Similar to our model in Ireland, the strategic emphasis is on initiating growth through collaborative partnerships with known third parties, where there is a clear demand for mpro5, thereby creating considerable potential with limited risk. As such, the following developments are being put in place:
· Western Europe - Erik-Jan Smulders has been appointed to expand the Company's sales footprint in the region. Previously with BlackBerry, Erik has significant experience in growing businesses across Europe, Middle East and Asia ('EMEA') in both the Small Medium Business ("SMB") and Enterprise markets, both through channel and direct sales.
· UAE - The Company has signed an agreement with BCB (British Centres for Business) in Dubai, to take advantage of its Incubator Programme. BCB will focus on the setup of Crimson Tide's Dubai office and UAE business through the introduction to potential partners. Additionally, their role is to act as facilitator by introducing mpro5 to key emerging verticals in this region; namely Facilities Management and Health.
· United States - Crimson Tide will shortly join RX360, the trade organisation which includes 18 of the world's top 20 pharmaceutical companies and many of their global suppliers. This follows introductions from RX360 to APEC Business Advisory Council in the US, as well as other pharma businesses where mpro5 is currently in the pilot/early implementation stages. RX360's mission is to promote patient safety by improving the integrity of the Healthcare supply chain; an area where mpro5 has an important role to play. As a result, Crimson Tide is likely to open a small representative office in the coming months.
· Australia - The Company has entered into a Memorandum of Understanding with Mobilise IT in Melbourne. This partnership will see Mobilise IT include mpro5 in its business strategy, as well as offer first line support. In return, Crimson Tide will include Mobilise IT's mconcierge service in its offerings & support across Europe. This collaboration offers Crimson Tide the ability to reach prospects and clients across the Asia-Pacific region.
Laurence D'Arcy, previously Managing Director of the Company's business in Ireland has taken responsibility for international expansion.
Barrie Whipp, Executive Chairman of Crimson Tide, said: "Demand for our mpro5 service has grown from international sources and we have multiple, early stage opportunities already in some of these markets. Rather than open overseas presences with highly speculative plans at great cost, we are being much more tactical, taking advantage of specific opportunities, with people we know and trust. We hope to see some tangible results from investments in the second half of the year. With considered increases in overheads we are placing the Company in a strong position for much higher growth in future years."
For further information please contact:
Crimson Tide plc Barrie Whipp / Steve Goodwin |
01892 542 444 |
WH Ireland James Joyce / James Bavister |
020 7220 1666 |
Alma PR Josh Royston / Robyn McConnachie |
O77 8090 1979 / 075 4070 6191 |
Notes to editors
1. Founded in 1996 and quoted on AIM since 2006, Crimson Tide plc is the provider of mpro5 ‐ Smart Mobility as a Service (SMaaS). mpro5 is delivered on smartphones, tablets and PDAs, and enables companies to transform their businesses and strengthen their workforces.
2. Crimson Tide offers a global service, working with some of the world's leading companies, tailoring mpro5 to suit customer needs. Developed over 10 years by its world‐class team, mpro5 is the smart choice for organisations large and small that want to improve productivity and save money.
3. mpro5 is a platform‐agnostic mobility suite fully hosted on Microsoft Azure, so customers are quickly up and running and the service is scalable and robust. It is provided on subscription, so clients can immediately see a return on their investment.
4. mpro5 not only helps people improve their day‐to‐day working methods while saving employers money, it also saves lives, by enabling haemophilia patients to verify the safety of their medication before use. mpro5 clients come from a diverse range of industries allowing the Company to listen, share and find the best solution for all mobility needs.
