OTTAWA, Jan. 22, 2014 /CNW/ - In-Touch Survey Systems Ltd. ("In-Touch") (TSXV: INX) today announced the signing of two contracts for the EventMatrix product worth $7.2 Million CDN over the next three years.
The contracts were signed with one of the world's largest automobile companies and one of the largest insurance companies in the United States. The Automobile Company has been a customer of In-Touch for several years and this contract renewal signifies their continued satisfaction and success with the EventMatrix product, which powered approximately 1,500 of the client's events in 2013. After successfully piloting In-Touch technology in 2013, the Insurance Company signed up for a three-year commitment.
"Over the past eighteen months we have invested significant resources in upgrading and enhancing our EventMatrix marketing automation and data capture software. In-Touch continues to invest in software development on the EventMatrix product line and expects to make a product enhancement announcement in the next quarter. While not totally net new revenue, these two orders put a stable revenue base under the company for the next three years," said Cameron Watt, President and CEO.
Certain statements included in this news release contain forward looking statements, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management warns the reader that hypotheses relative to future events which are beyond the control of management could prove to be false, given that they are subject to certain risks and uncertainties.
The TSX Venture Exchange has not reviewed the foregoing and has neither approved or disapproved the contents of this press release.
SOURCE In-Touch Survey Systems Ltd.