EAGLE Eye Solutions, a retail and hospitality voucher firm backed by Sir Terry Leahy, saw shares jump 7.3 per cent yesterday after striking a deal with the ex-Tesco boss’s former supermarket rival Sainsbury’s.
The company, which floated on Aim last year, will handle all of Sainsbury’s digital offers and vouchers using its so-called AIR platform, which will be rolled out across the retailer’s stores.
Eagle Eye said the multi-year contract will contribute “material revenue” to the business, sending shares soaring to 213p.
Supermarkets are increasingly shifting away from paper to digital offers and vouchers, which are estimated to be worth £54.8bn and £4.7bn respectively.
The deal came as the company announced that a 165 per cent jump in first quarter sales to £4.9m, thanks to new contract wins including Sainsbury’s and Asda.