Leading Consumer Packaged Goods Company Selects Kneat’s SaaS Platform, Driving Expansion Into Adjacent Verticals
LIMERICK, Ireland, January 20, 2022 /CNW/ – kneat.com, inc. (TSX: KSI) (“Kneat” or “the Company”) a leader in digitizing and automating validation and quality processes, is pleased to announce it has signed a four-year Master Services Agreement with the U.S. subsidiary of one of the world’s top fifteen Consumer-Packaged-Goods (CPG) companies.
The global CPG parent company employs over 50,000 people, operates in over 150 countries and runs over 40 manufacturing sites. This Master Services Agreement is effective immediately and allows the company to scale Kneat to all its affiliate companies and business divisions. This represents a considerable opportunity for the expansion of SaaS licenses over the coming years. The company’s initial focus is the digitalization of computer systems validation within the United States. Implementation will commence in the coming weeks with an expected go-live date in Q2 2022.
“Today’s announcement further demonstrates that Kneat’s enterprise software has wide-ranging applications beyond life sciences,” said Eddie Ryan, Chief Executive Officer of Kneat. “Kneat was designed to operate in highly-regulated industries, and we are delighted to be trusted as the solution of choice by the U.S. division of this top fifteen CPG company. We look forward to working with the U.S. team to build out a robust, digitized computer system validation process.”
This customer acquisition continues the trend of innovative, global leaders selecting Kneat Gx as their enterprise validation platform.
Kneat, a Canadian company with operational headquarters in Limerick, Ireland, develops and markets the next generation Kneat Gx software platform. Multiple business work processes can be configured on the platform from equipment to computer system validation, through to quality document management. Kneat’s software allows users to author, review, approve, execute testing online, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes globally. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking information” within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat’s business development activities, the use and implementation timelines of Kneat’s software within the customer’s validation processes, the ability and intent of the customer to scale the use of Kneat’s software within the customer’s organization and the compliance of Kneat’s platform under regulatory audit and inspection. While such forward-looking statements are expressed by Kneat, as stated in this release, in good faith and believed by Kneat to have a reasonable basis, they are subject to important risks and uncertainties. As a result of these risks and uncertainties, the events predicted in these forward-looking statements may differ materially from actual results or events. These forward-looking statements are not guarantees of future performance, given that they involve risks and uncertainties. The forward-looking information in this press release does not include a full assessment or reflection of the unprecedented impacts of the COVID-19 pandemic occurring since the first quarter of 2020 and the ongoing and developing resulting indirect global and regional economic impacts. This has resulted in significant economic uncertainty and even though the company has to date experienced no significant impact to its operations, any potential impact on our future is difficult to understand or measure at this time. Kneat does not undertake any obligation to release publicly revisions to any forward-looking statement, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investors’ own risk.
For further information:
Hugh Kavanagh, Chief Financial Officer
P: +353 61 203826
James Bowen, Kneat Investor Relations
P: + 1 416-519-9442