Arria NLG PLC Five Year Licensing Agreement with FarmLink, LLC. (1752G)

TIDMNLG

RNS Number : 1752G

Arria NLG PLC

02 March 2015

2 March 2015

Arria NLG plc

("Arria" or the "Company")

Five Year Licensing Agreement with FarmLink, LLC.

Arria NLG plc (AIM: NLG), a leader in the development and deployment of Natural Language Generation ("NLG") technologies, announces the successful completion of the Company's initial development agreement with FarmLink, LLC ("FarmLink").

The initial agreement with FarmLink was announced on 13 October 2014. Following the successful conclusion of that development project, the parties have entered into a five year revenue licensing agreement for Arria's NLG engine to be an integral part of FarmLink's service and data offerings.

The focus of this licencing agreement is on Arria's support for FarmLink's reporting services based on FarmLink's TrueHarvest data. The TrueHarvest model has evolved to provide valuable, field-level analysis to FarmLink's farmer clients and their agronomists. TrueHarvest is the first and only yield benchmarking service that accurately shows farmers the full range of performance potential for their fields and management zones. Arria's reporting application will use the TrueHarvest information to build the gap map and deliver agronomic insights in natural language reporting.

A Kansas City, Missouri based company, FarmLink offers an innovative and unique set of services to help farmers improve productivity and profitability. Through its TrueHarvest yield benchmarking service, FarmLink provides farmers and their advisors with precise, detailed and actionable comparisons that inform resource decisions, and help increase productivity and profit.

Stuart Rogers, Chairman and Chief Executive of Arria NLG plc, commented: "We are delighted to be deploying Natural Language Generation narratives for FarmLink's clients. The initial engagement work was completed in a matter of months, leading to this full licensing agreement. The licensing agreement is long term, has solid revenues that can grow over time with FarmLink's business and demonstrates the powerful value of harnessing Arria's NLG technology to the significant analytical tasks modern agriculture demands.

"The speed with which FarmLink's initial NLG application was completed is a testament to the continual evolution of Arria's NLG technology and to the significant capabilities of Arria's development team.

"Arria's NLG engine continues to evolve and its robust developer toolkit gives us a significant competitive edge in our ability to rapidly develop NLG applications. We continue to invest in the science of NLG, R&D, new functionality, application development and client support.

"Alongside this we have reduced our operating costs and plan to reduce future cost growth resulting from further contract wins by building an internally resourced offshoring component to our development capacity. FarmLink, our growing customer base and our shareholders will be beneficiaries of these cost management developments."

Scott Robinson, President of FarmLink, stated:

"Data has the power to change farming as we know it, but we must be able to make that data work for individual farmers in actionable ways. At FarmLink, we're doing just that by bringing benchmarking capabilities to farmers for the first time. Natural Language Generation allows FarmLink to scale its business of providing actionable insights to every corn, wheat or soybean farmer in America."

For further information, please visit www.arria.comor contact:

 
 Arria NLG plc                                     Tel +44 (0) 20 7100 
  Stuart Rogers, Chairman and Chief Executive                     4540 
---------------------------------------------  ----------------------- 
 Allenby Capital, Nominated Adviser and            Tel: +44 (0)20 3328 
  Joint Broker                                                    5656 
  Nick Naylor 
  Jeremy Porter 
  James Reeve 
---------------------------------------------  ----------------------- 
 Westhouse Securities, Joint Broker               Tel: +44 (0) 20 7601 
  Antonio Bossi                                                   6100 
  Robert Finlay 
---------------------------------------------  ----------------------- 
 Walbrook, Financial PR and IR                      Tel: 44 (0)20 7933 
  Paul Cornelius                                                  8792 
  Guy McDougall                                   arria@walbrookpr.com 
---------------------------------------------  -----------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGRPKDDPDBKBANK

Arria Nlg Ords (LSE:NLG)
Historical Stock Chart
From May 2024 to Jun 2024