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Crimson Tide Steps Up International Expansion In Four Regions

LONDON (Alliance News) - Crimson Tide PLC on Thursday said it has advanced its international ...

Alliance News 2 February, 2017 | 8:59AM
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LONDON (Alliance News) - Crimson Tide PLC on Thursday said it has advanced its international expansion plans launched late last year in response to the success experienced with the company's partnership in Ireland.

Crimson Tide, which provides mobile data services for businesses via is mpro5 platform, is implementing changes to help expand in western Europe, the United Arab Emirates, the US and Australia.

"Demand for our mpro5 service has grown from international sources, and we have multiple, early-stage opportunities already in some of these markets. Rather than open overseas presences with highly speculative plans at great cost, we are being much more tactical, taking advantage of specific opportunities, with people we know and trust," said Executive Chairman Barrie Whipp.

The business said Laurence D'Arcy, previously the managing director of the company's operations in Ireland, "has taken responsibility for international expansion".

"We have begun to invest in international expansion following the success of our partnership in Ireland. Similar to our model in Ireland, the strategic emphasis is on initiating growth through collaborative partnerships with known third parties, where there is a clear demand for mpro5, thereby creating considerable potential with limited risk," Crimson Tide said.

Erik-Jan Smulders has been appointed to an unnamed role in order to expand the company's sales footprint in western Europe, bringing his previous experience working in both the small-to-medium business markets, previously working for the likes of Blackberry.

In the UAE, Crimson Tide has signed an agreement with the British Centres for Business in Dubai, so it can "take advantage of its incubator programme".

"British Centres for Business will focus on the set-up of Crimson Tide's Dubai office and UAE business through the introduction to potential partners. Additionally, their role is to act as facilitator by introducing mpro5 to key emerging verticals in this region; namely facilities management and health," said Crimson Tide.

Crimson Tide will shortly join the RX360 trade organisation in the US, which includes 18 of the world's top 20 pharmaceutical companies and many of their global suppliers, according to Crimson Tide. The London-listed firm said it is likely to open a small representative office in the coming months as a result.

Lastly, in Australia, Crimson Tide said it has entered into a memorandum of understanding with Mobilise IT, which will see the latter incorporate mpro5 into its business strategy, as well as offering first line support.

In return, Crimson Tide will include Mobilise IT's mconcierge service in its offerings and support services across Europe. The collaboration offers Crimson Tide "the ability to reach prospects and clients across the Asia-Pacific region".

"We hope to see some tangible results from investments in the second half of the year. With considered increases in overheads we are placing the company in a strong position for much higher growth in future years," said Chairman Whipp.

In December, Crimson Tide said revenue generation in 2016 was expected to grow by a quarter year-on-year to no less than GBP1.8 million, while post-tax profit was expected to more than double.

Crimson Tide shares were trading up 4.0% to 3.25 pence per share on Thursday.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2017 Alliance News Limited. All Rights Reserved. 

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Crimson Tide PLC 3.38 GBX 2.27 -
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