25 May 2012

Nasstar wins new contract

12/12/2011 Miles Nolan

Under its white label programme with ihotdesk, cloud computing developer Nasstar (NASA0 has secured its first contract - for 100 Hosted Desktop subscribers.

Nasstar company recented tied up with well establised IT support services firm ihotdesk, so the deal is a welcome revenue generator. It intends to go live in the next month, and with a large customer base, the hope is that ihotdesk will attract further clients for Nasstar.

In a trading statement released in October, the AIM firm revealed a 25 per cent hike in Hosted Desktop subscriptions to over 2,000 live users. It also signed a deal with one of the UK's largest Microsoft Hosted Exchange providers to white label its Hosted Desktop - this agreement has already picked up a number of new customers.

Interim results to March revealed a slight increase in sales to £1.16 million, as EBITDA edged ahead to £151,000 (2010: £143,000). A £1.2 million placing at 8p a share has also helped swell the coffers, allowing Nasstar to build its infrastructure ahead of winning planned new business.

The shares are up 0.25p to 11p this morning, with full-year results to September due on Thursday. Cloud computing and the resultant cost savings it can provide, is turning out to be a major growth area in the IT market. Nasstar is well positioned to take advantage. Worth a look.

Tags: AIM market, Charles Black, Ihotdesk, New contract win

Sector: Software & Computer Services

Companies: Nasstar

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