RS2 Software plc – New contracts awarded

RS2 Software p.l.c. announced that its fully-owned subsidiary, RS2 Smart Processing Ltd, the managed services arm within the Group, has concluded a major contract with one of the largest payment processors in Europe. RS2 Smart Processing Ltd will be supporting this company for its operations in Europe, North America, Latin America and Asia Pacific. This was referred to in the Interim Directors’ Statement published on 16 November 2012 wherein the company had advised that it will be concluding a significant processing agreement.

This contract, signed on 4th March 2013, will be generating regular monthly income for its duration with the possibility for further extensions after the initial three year term is completed and is the realization of the Group’s long-term strategy to diversify its revenue streams. The live date is expected to take place in the early part of quarter two of this year.

Separately, RS2 Software p.l.c. announces that it also successfully concluded another licence agreement of USD1,800,000 with a North American client in the fourth quarter of last year. This was also referred to in the Interim Directors’ Statement published on 16 November 2012.

To view the official company announcement, click here.