Crimson Tide PLC Contract Win and Strategic Partnership (2163B)

TIDMTIDE

RNS Number : 2163B

Crimson Tide PLC

10 February 2022

Crimson Tide Plc

("Crimson Tide" or "the Company")

Significant Contract Win and New Partnership

Crimson Tide Plc (TIDE) is delighted to announce both a substantial new contract win and, separately, an expansive strategic partnership with Cisco Meraki. The new client is a market leading contract catering company, who will be using mpro5 to digitise all their daily logbooks to ensure the highest standards of food safety are met for their clients.

Data visualisation via custom built Microsoft Power BI dashboards, will provide invaluable real-time insights for the client and empower the business to make more informed decisions in their operations.

The fully digitised solution will be rolled out across the client's several hundred UK sites. The total subscription contract value exceeds GBP400,000 across its initial term.

The new strategic partnership presents great opportunities for both the Company and Cisco Meraki. Crimson Tide's platform, mpro5, turns Cisco Meraki Internet of Things (IoT) products into solutions for its customers, leveraging data gathered from sensors and smart cameras for automation, action, visibility and business insight.

This combined solution is highly versatile and can be deployed in a variety of contexts - mpro5 has been productised for the Cisco Meraki marketplace, featuring Smart Schools, Stations, Data Centres, Coffee Shops & Quick Service Restaurants and Buildings. The marketplace listing is available to all Cisco Meraki partners, providing scope for further opportunities and partnerships.

Both parties expect this partnership to allow them to deliver comprehensive and effective solutions for their current customer base and reseller network, as well as new prospects globally.

Barrie Whipp, Chairman, commented: "Our contract win continues to demonstrate the value of mpro5 in catering, an area where we now have a great understanding of the standards required in health and safety. The key to our offering is the level of service we offer to our clients on an ongoing basis. I am particularly pleased with the new partnership with Cisco Meraki. Their global reach and the availability of the Cisco Meraki marketplace means that mpro5 is now able to reach markets outside our traditional geographies. We look forward to implementing mpro5 with Cisco Meraki sensors in a wide range of vertical markets"

For further information:

Crimson Tide plc Barrie Whipp / Luke Jeffrey 01892 542 444

finnCap (Nominated Adviser and Broker)

Corporate Finance: Julian Blunt / James Thompson +44 20 7220 0500

Corporate Broking: Andrew Burdis +44 20 7220 0500

Alma PR (Financial PR)

Josh Royston +44 7780 901979

For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk

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