River Tech p.l.c. maintains its promise to investors to expand its customer and technology portfolio. The Group has reached an agreement with Azure Marketing Services B.V. (the “Customer”), effective October 2022, for the technological development of a website management system. The first iteration of the project will be delivered by end of first quarter of 2023.

The system will enable Customer to deploy new websites within their network using custom tools and predefined templates. This facilitates the websites' launch and ongoing content management. The solution allows Customer to reach both operational and cost efficiency using this tailor-made application with minimal effort by providing a single point of interaction.

In accordance with market terms, the agreement is negotiated to generate a revenue of €150,000 upon completion of the specified deliverables. In parallel, the Group will provide the Customer with software maintenance and support services carrying an additional revenue stream.