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GLOBO Plc Gains On Greek Government Contract Win

This morning Globo (LSE: GBO) — the international provider of “enterprise mobility management solutions” and software-as-a-service (SaaS) — announced that it has been awarded a major contract to supply mobile technology and services to the Greek Ministry of Public Order and Citizen Protection. The contract value is  €7.5m, and was won in partnership with Globo Technologies SA, its 49%-owned associate company. Globo’s share price currently up 1.7%.

Thgloboe project will allow police officers to access government systems securely when operating in the field, via ruggedised tablets, and will offer apps and tools to help with things like road traffic control, accident management, and the administering of fines. The project is scheduled for completion by the end of next year.

The project, which will be the largest Greek government mobility project in terms of both scope and value, is being financed by EU structural funds and will serve as a pilot implementation for potential deployment by other EU countries.

Commenting on the contract win, CEO Costis Papadimitrakopoulos said  

This is another great win for Globo and Globo Technologies S.A., our associate. This contract demonstrates the quality of our GO!Enterprise product, as well as the power of an integrated approach to security and applications development.

This win also demonstrates the importance of our strategy of combining expert consulting and development services as a way of winning large contracts. Our Mobility Business Solutions (MBS) arm – bolstered by the acquisition of the services division of Sourcebits – is growing in strength and this win is an endorsement of our approach.

Globo’s share price is still 9.5% down on this time last year, a slightly worse performance than the AIM 100 index, which has dropped 7% over that period. But Globo has gained almost 400% over the past five years, against a mere 20% rise by the AIM 100.

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Jon Wallis has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.