Cerillion has secured its largest contract to date after winning a £42.5 million deal with Oman Telecommunications (Omantel), triggering a sharp rise in its share price.
Shares in the AIM-listed billing and CRM software provider have risen as high as 12% from 1,230p to 1,380p so far today following the announcement earlier this morning.
Under the five-year agreement, the London-based firm will supply and implement its full BSS/OSS (business support systems/operations support systems) software suite for Omantel, alongside ongoing support, maintenance, hosting and managed services, following an initial implementation phase.
The platform will support Omantel’s mobile, fixed-line and broadband operations across consumer, corporate and wholesale markets in Oman and internationally.
Preliminary work on the transformation programme is already under way.
The business was selected after a competitive tender process that included significantly larger, established BSS/OSS vendors.
It said its productised, full-service delivery model was a key differentiator, enabling seamless upgrades, faster product launches and lower total cost of ownership compared to other systems.
Omantel, Oman’s first and largest integrated telecoms provider, is listed on the Muscat Stock Exchange and is pursuing a major technology-led transformation.
“Omantel is transforming itself into a regional technology powerhouse and expanding Oman’s digital infrastructure with advanced innovation initiatives, in support of Oman Vision 2040, which is guiding the country’s economic development,” said Louis Hall, CEO of Cerillion.
“We are delighted to be partnering with Omantel at this exciting time and believe that our selection is testimony to the strength of our offering and services.”
Cerillion has a 26-year track record in mission-critical billing, charging and CRM software, with around 70 customer installations across approximately 45 countries.
The company operates development centres in India and Bulgaria and has sales operations across Europe, the US, Singapore and Australia.
It listed on AIM in 2016 following a management buyout from Logica plc and its market cap currently sits at over £400m.