Crimson Tide Signs Master Service Deal For Compass Group's Non-UK Operations; Stock Up

Crimson Tide Plc (TIDE.L), the provider of the mpro5 solution, announced Tuesday that it has entered into a Master Services Agreement or MSA with food service company Compass Group (CPG.L,CMPGF.PK) for its non-UK based operations.

The company said the contract underpins opportunities for future sales of mpro5 to Compass Group's operations across 45 countries in over 55,000 locations.

Following the MSA, Crimson Tide announced its first contract with Compass Group's Danish operations. Following an initial pilot project, this deployment reflects an expanded number of users and wider use of mpro5 to include Compass' first IoT enabled sites.

Barrie Whipp, Chairman said, "We have proved the value of mpro5 with Compass Group in the UK over a number of years. This Master Service Agreement allows other Compass locations to easily add mpro5 to their operations to enjoy the great benefits in food safety and compliance that our solution affords."

In London, Crimson Tide shares were trading at 2.90 pence, up 3.61 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design. Generative artificial intelligence or AI technologies, including the highly popular ChatGPT, could expose around 300 million full-time jobs around the world to automation, a report by Goldman Sachs predicts, deepening the rising fears about job security. According to a new research report by GS economists, "The Potentially Large Effects of Artificial Intelligence on Economic Growth",.. UBS Group AG has called back its former Chief Executive Officer Sergio Ermotti to lead the Swiss banking giant amid the new challenges and priorities it faces following its planned acquisition of troubled domestic rival Credit Suisse Group AG. Following the news, UBS shares were gaining more than 2 percent in Swiss trading as well as in pre-market activity on the NYSE.
Follow RTT