Newry firm in £2.7m contract
Newry-based software and consulting company First Derivatives has secured two contracts worth a combined $4.4m (£2.7m) that rank as the biggest ever signed by the company.
The deals, signed by First Derivatives' recently acquired US business Market Resource Partners, involve the company providing and managing marketing programmes for two US-based technology firms.
First Derivatives said it could not reveal the names of its new customers, but said they are major players in the technology industry.
The first deal, worth $2.5m, will provide marketing programmes to a large technology company working in the US and Canada. The second contract, worth $1.9m, includes the provision of four marketing programmes to another leading player in the technology sector in the US.
“These wins are a significant achievement by the MRP team, one of the contracts is the largest ever signed by the company. The combined contracts account for some 70% of the company's previous revenue earned in the year ending December 2007. It is clear that this year and next year will be very successful for MRP,” said First Derivatives CEO Brian Conlon.
“As margins tighten further it is vital that marketing spend targets key decision makers. The fact that some of the world's largest technology customers are now working with MRP is a vote of confidence for their cutting edge standard of products and services,” Mr Conlon added.
Founded in 1996, First Derivatives provides products and services to the capital market technology sector and employs 144 people.