Sagentia signs $10m contract with US firm

29th Sep 2011 13:03

Sagentia, the outsourced technology R&D group, has signed a multi-year contract with a major US consumer company to provide outsourced research and development services, including new product development. The value of the contract is around $10m over the initial term of three years. In a statement the firm said: "Over the past 18 months, Sagentia has been evolving from a project-oriented consultancy to becoming a strategic partner with its major customers. "This strategy, which has also been successful in the medical sector, improves forward demand visibility, resource scheduling and reduces the cost of sale, enabling Sagentia to be more competitive in the market and provide even better value and service to its strategic customers. "This new contract is a major progression of this strategy within the group's consumer sector." The share price rose 6.98% to 80.5p by 13:12.NR