Shares in Crimson Tide (AIM:TIDE) rose 7% to 90.8p after the AIM-quoted software provider announced the renewal of a 36-month contract with Koenig & Bauer (UK) Ltd.
The group, which supplies the mpro5 operational compliance platform, said the agreement extends its long-standing relationship with the UK subsidiary of Koenig & Bauer AG, one of the world’s oldest printing press manufacturers.
Koenig & Bauer has been a customer since the early years of Crimson Tide’s commercial operations and has embedded mpro5 into its service and operational workflows in what the company described as a highly specialised and unique way.
The company said the renewal reflected Koenig & Bauer’s continued use of the platform to support operational processes.
“We are delighted that Koenig & Bauer has chosen to renew their contract with us for a further 36 months," said Jon Clarke, chief executive.
"As one of our earliest adopters, they exemplify the long-term value that mpro5 can deliver, particularly when used in innovative and specialised ways.
"This renewal reinforces the strength of our long-standing relationship and supports our focus on sustainable, recurring growth.”