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UKHotViews
Wednesday 13 October 2021

Made Tech signs largest contract to date

Made Tech logoJust two weeks after Made Tech made its debut on AIM (see *UKHotViewsExtra* Made Tech makes its debut on AIM), it has announced its “largest contract to date”. The contract is with the Driver and Vehicle Licensing Agency (DVLA) and is valued at approximately £7m over two years.

Made Tech, which positions as a digital transformation services provider to the public sector, won its first – one-year, £3m - call-off contract with DVLA in October last year for the provision of design, development, and application support services. Alongside Capgemini, which won the same size/length deal at the time, it has been supporting the DVLA with its IT transformation programme. The aim is to re-engineer all DVLA’s IT systems onto open-source cloud hosted platforms.

With the original contracts coming to an end, DVLA has now decided to move forward with Made Tech as the single supplier (in a contract that looks to be of a similar annual value to its first deal but over a longer period). Made Tech will support the department as it migrates legacy services to the cloud, develops new internal and external facing services, and creates online services and digital channels. As a result of the contract, Made Tech will make further investment in Wales, supporting the company’s regional expansion strategy.

When we wrote about Made Tech at the time of its IPO, we highlighted the strong revenue growth of the last few years. But we also pointed to the limited visibility of revenues due to the project nature of the business. Made Tech emphasises that this contract proves the repeatability of its revenues, the strength of its client relationships, and the ability to increase the size and scope of its relationships with existing clients. We will continue to watch Made Tech closely as it rapidly scales and faces up to the inevitable challenges that come with that journey.   

Posted by: Georgina O'Toole at 09:24

Tags: centralgovernment   contract   cloud   digital   SMEs   public+sector   digital+transformation  

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