AIM-listed Tialis Essential IT has won a substantial five-year contract extension worth approximately £50 million from an existing customer. The managed services provider will deliver lifecycle services, tech bars, end user support and field engineering under the expanded framework agreement.
Tialis Essential IT shares were over 60% higher at the time of writing.
Investors were clearly impressed with the deal as it represents a significant boost to the company’s order book and provides investors with much-needed revenue visibility.
The company said the agreement underscores Tialis’s strong client relationships and successful delivery track record in advanced engineering and technology solutions.
The contract extension builds on previous work with the unnamed long-standing customer, demonstrating high levels of client satisfaction with the firm’s services.
“We are delighted to deepen our long-standing relationship through this major contract expansion,” said Niall O’Regan, Chief Operating Officer of Tialis Essential IT.
“Repeat business from high-quality clients is the clearest endorsement of our capabilities, and this award highlights the trust placed in us to deliver mission-critical solutions. This contract will meaningfully contribute to our revenue base and supports our strategy of driving growth through long-term partnerships.”