We wrote about eg Solutions’ revenue and profit warning last week (see here) so it’s good to be able to revisit with some positive news for the current financial year. And it really is positive – the company has signed what it describes as the most ‘significant’ deal in its history.
The contract is with a global financial company for the eg operational intelligence suite, plus implementation services. 3,250 users across Europe and India will use the suite in the first instance. The revenue will be recognised in FY12. Assuming the project is successful, the company can look forward to a minimum of 30,000 licences, with deployment services contracted separately. That’s a pretty good deal in anyone’s books and will go along way towards making up for the pain eg Solutions experienced in 2011. It also indicates that the work to strip out a third party product from an acquired solution (which was a major contributor to missed revenue and profits) has indeed gone well and the company can focus on growing the business again.