Escher Group confirms $50m retail technology deal with USPS
Boston-based postal retail technology specialists Escher Group has confirmed that the major contract win it announced earlier this month was with the US Postal Service. The announcement, which has seen its share values surging, was that it had won a 54-month contract with renewal options for the postal operator to use its Riposte suite of retail management software.
Escher said it was expecting the largest deal in its history to generate around $50m in revenue for the group over 15 years, with scope for “substantial” further revenue. Next year should bring in $4m (USD) with revenue increasing in 2013 as the software is rolled out.
On Friday, the company said that it had indeed won the contract in a USPS tendering process, to include licensing, maintenance and services associated with its Retail System Software (RSS) project.
Escher Group chief executive Liam Church said: “We are delighted that after a detailed tendering process, the USPS chose Escher Group. Winning this contract – from one of the world’s largest postal authorities – confirms Escher’s position as the leading supplier of postal transaction messaging technology in the world today.”
In recent months, Escher Group has won contracts with postal operators including Armenia’s Haypost and with Saudi Post.
