Pennant International Group plc (AIM: PEN), the systems support software and training solutions company, is pleased to announce a new contract win within its Software & Services segment.
The Canadian government has awarded a new IPS services contract to Pennant Canada Limited for the use and optimisation of Pennant’s Auxilium® suite of software to support maritime programmes within the Canadian Department for National Defence (“DND”).
Pennant’s Auxilium® suite brings together – GenS, Analyzer and R4i – into a single, fully integrated solution. Auxilium®, and its predecessor applications (OmegaPS), is the software tool of choice for the DND and has been used extensively throughout the department since the early 1990s.
The contract provides a framework agreement for an initial five-year term, with annual options to extend for a further 6 years. The scope of work includes the continuation of existing tasks and incremental growth in revenue generating services.
Whilst not subject to a minimum contract value, at historical rates of DND usage of Pennant IPS services, the initial value of the five-year framework is estimated at C$15 million (at fixed prices which include annual inflationary adjustments) and a value across a fully extended eleven-year term on the same basis of up to approximately C$35 million.
Phil Walker, CEO, commented: “We are pleased to have secured this new framework contract with the Canadian DND in support of maritime programmes. This award reflects Pennant’s strong, long-standing relationship with the DND and supports the investment in the Auxilium® suite.”
To find out more about Auxilium®, navigate to this webpage: IPS Solutions.
