press release

RedstoneConnect deploys proprietary smart retail software platform in Milton Keynes

RedstoneConnect (AIM: REDS), a leading provider of technology and services for smart buildings and commercial spaces, is pleased to announce it has secured a five year software licence agreement to deploy its proprietary Connect Digital Platform retail solution at thecentre:mk in Milton Keynes.

The agreement, awarded by owners of thecentre:mk, Hermes, will see RedstoneConnect support new smart car parking, wayfinding, customer data management as well as CRM driven loyalty applications, reaching the 30 million visitors to thecentre:mk per annum. The contract will generate approximately £500,000 in both annuity and volume driven licence income for the Company over the term of the licence agreement.

Prior to this agreement, RedstoneConnect carried out a detailed digital feasibility study and audit in conjunction with thecentre:mk, from which a comprehensive smart digital framework has been defined, agreed and is now being implemented. This seamless approach adopted by RedstoneConnect highlights the Company's end-to-end smart solution capabilities and is complementary to the wider redevelopment project to develop Milton Keynes into the UK's first 'smart city'.

Mark Braund, CEO of RedstoneConnect, commented:

"This is an exciting win for RedstoneConnect as we deploy our smart software applications following a detailed period of consultation by both the Company and thecentre:mk. Once installed, our smart solutions will revolutionise the retail experience for both customers and retailers alike at thecentre:mk.

Retail and leisure remain key sectors for our business as we seek to deploy our smart office and smart city solutions globally."