The AIM-traded company said the extension represented annual recurring revenue of £486,000, up 4% on the previous contract, with Cadent continuing to use Crimson Tide’s mpro5 operational compliance platform across its day-to-day workflows.
Chief executive Jon Clarke said the renewal demonstrated the “mission-critical role” mpro5 played in supporting large, complex enterprises, adding that extensions with major customers were central to the company’s retention strategy and provided “a strong, recurring foundation for future growth”.
Reporting by Josh White for Sharecast.com.
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