BUZZ-Quindell: up on Canadian contract win

Tue Oct 21, 2014 4:30am EDT
 
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** British IT outsourcer and consultancy Quindell up 9.6 pct after AIM-listed company says it had inked a contract with one of Canada's top three insurers.

** To provide the insurer's customers telematics technology solution exclusively for five years.

** Cannacord Genuity say in a note that they assumed the contract win was with Aviva Canada.

** Quindell said this month that a number of "core business relationships" were expected to expand in Q4.

** Quindell's customers include British American Tobacco , ING Groep NV, Aviva Insurance Plc, Peugeot , Royal Mail Plc and Old Mutual Plc.

** Quindell's stock has shed more than 3/4th of its value in the past 7 months after U.S.-based Gotham City Research raised questions about its revenue model and profit quality. (link.reuters.com/waw68v) (RM: noor.hussain.thomsonreuters.com@reuters.net)