IVO’s Skyware division clinches major European deal, more to come
Published on: | by finfeed
Leading data and analytics solutions company, Invigor Group (ASX:IVO), today announced that its logistics and workforce management solutions division, Skyware Service Control, has inked a contract for logistics support with one of Europe’s largest food retailers.
An initial contract valued at AU$100,000 has been secured for the first quarter of the year for the client’s technical service division in Germany. Further to that, a contract of greater scope, geography and value is currently being negotiated.
This development follows IVO’s expansion of Skyware into the Asia Pacific region, as the company announced in December last year.
Skyware has a high-impact footprint in numerous industries, including long-term contracts with leading blue-chip customers like Daimler (automotive), Liberty Global (telco) and Deutsche Bahn (transportation). It is now being actively sought by a range of companies that recognise the cloud-based technology’s cost-saving capabilities in workforce management and transport logistics, including ‘last mile’ deliveries.
The Skyware order pipeline for 2018 continues to gain traction, and now includes a substantial contract in negotiation within the healthcare sector – one of the numerous industries that require improved cloud-based logistics support.
Given recent tendering activity and expansion, IVO anticipates that the Skyware business is well on track to meet the revenue target of $2 million for the calendar year, and with substantial growth thereafter.
This is a speculative statement at the moment, so investors should seek professional financial advice for further information if considering this stock for their portfolio.
IVO CEO, Gary Cohen, said: “What we anticipated just a few weeks ago regarding Skyware’s growth potential is already being realised with this new contract and the substantial growth in the order book and pipeline. The potential growth for this division is enormous.”
“Starting the year with such a great contract with a recognised blue-chip food retailer reinforces the value of the Skyware technology, which addresses fundamental ecommerce logistics processes that need to be optimised in many organisations and industries,” said Cohen.
“We anticipate the contract’s scope and value will grow very materially. We are witnessing a lot of opportunity for Skyware not only in workforce management optimisation, but also in transport logistics and ‘last mile’ deliveries. We will report on more contract wins shortly.”
IVO’s order book across all divisions is strengthening, with further contracts imminent. The company also expects to soon announce a major new contract for its data and analytics solutions division for a large deployment in Asia.