First, it's great news that the Stafford-based back-office optimisation software solutions supplier has won a three-year, $1 million contract with 'a leading social networking corporation.' This will include up to 4,000 licences being deployed over the term, with fees coming in from the beginning of December. Professional services revenue will start to be recognised immediately, and there is potential for further licences to be sold in future, reckon analysts at FinnCap.
You'll note the vague description of the end customer in question, just a leading social network. But reading between the lines, we are talking about Facebook (FB:NDQ) here, the big kahuna, not some esoteric Chinese chats and snaps website.
EG Solutions CEO and founder, Elizabeth Gooch
'The EG operational intelligence software will be used to improve the management of work and resources in the client's high volume, rapidly changing and often-sensitive service request units,' says the EG update today. 'Ensuring that social media continues to be a safe environment is a primary driver,' it continues.
The second really interesting point is that this deal has been struck by Aspect Software, one of EG's key partners and its chief route into the vast US market. Yep, it's the same firm that emerged from Chapter 11 bankruptcy on 26 May after a massive financial restructuring, not to mention 9.5% stakeowner in EG itself.
'This is Aspect's third new client win with the EG operational intelligence software suite since March this year,' reveals EG, which clearly demonstrates that it is back in business now, and that's super news for the UK firm.