Tribal secures £17m contract for next-generation student management system
Tribal (AIM: TRB), a leading provider of software and services to the international education market, announces that it has signed a significant eight-year contract (three years plus five one-year extensions) worth up to SGD30m (£16.9m) with the world-leading university, Nanyang Technological University, Singapore for Tribal’s cloud-based SITS:Vision Student Management System and next-generation Tribal Edge products. The contract will increase Annual Recurring Revenues (ARR) by approximately £1.2m per year, with implementation commencing in the first quarter of 2021.
Nanyang Technological University (“NTU”) has over 32,000 students from approximately 80 countries. It is one of the fastest-rising universities in the world’s top 50 and is currently ranked 11th according to QS World University Rankings. This prestigious win, following a highly competitive tender, underlines Tribal’s position as a leading provider of Student Management systems in South East Asia.
To maintain its position at the forefront of education provision, NTU was looking for a modern, efficient Student Information solution that improves student outcomes and experience, while providing a better experience for the University’s staff and more efficient use of their internal resources. Our comprehensive solution covers the complete student journey, from pre-admission through to graduation, with the offering including SITS in the Tribal Cloud, and Tribal Edge products, as well as Tribal Student Marketing & Recruitment and Tribal Student Support & Welfare. The breadth of services provided validates Tribal’s strategy to provide complete, integrated Student Information solutions, managed in the public cloud.
Over recent years, South East Asia has seen rapid growth in Higher Education and now totals over 1,000 institutions. Tribal has a strong presence in the region, with several existing customers in Malaysia; including Malaysia’s largest public university, The University of Malaya, and the Universiti Teknologi Petronas (UTP), a leading private research university. Tribal employs 150 people in Manila, Philippines, as well as having recently established a Global Delivery Centre in Kuala Lumpur. The Group will continue to invest in the South East Asia region to further build out its presence, including technical and professional services.
Mark Pickett, CEO of Tribal Group, commented: “Not only is this a strategically significant win; confirming the validity of our cloud transition strategy and our market leading position in South East Asia, but it is also the largest SITS contract secured in the history of the Group, adding approximately £1.2m in Annual Recurring Revenue. We are delighted to be partnering with NTU to deliver their vision of an empowering and engaging student experience. South East Asia presents an exciting area of future growth for Tribal and with our presence already established in the region, we look forward to building on this win in the years ahead.”
About Tribal Group plc
Tribal Group plc is a pioneering world-leader of education software and services. Its portfolio includes Student Information Systems; a broad range of education services covering quality assurance, peer review, benchmarking and improvement; and student surveys that provide the leading global benchmarks for student experience. Working with Higher Education, Further and Tertiary Education, schools, Government and State bodies, training providers and employers, in over 55 countries; Tribal Group’s mission is to empower the world of education with products and services that underpin student success.
This Statement has been prepared for and is addressed only to our shareholders as a whole and should not be relied on by any other party or for any other purpose. Tribal, its directors, employees, agents or advisers do not accept or assume responsibility to any other person to whom this Statement is shown or into whose hands it may come and any such responsibility or liability is expressly disclaimed. This Statement may contain forward-looking statements. Any forward-looking statement has been made by the directors in good faith based on the information available to them up to the time of approval of this Statement and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. To the extent that this Statement contains any statement dealing with any time after the date of its preparation, such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur and therefore the facts stated and views expressed may change. Tribal undertakes no obligation to update these forward-looking statements.
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