London, 04 December 2018 – Magenta Technology has appointed Darran Cox to the position of Chief Finance Officer. This appointment to the senior, international, management team is evidence the company behind the award winning Maxoptra routing and scheduling software and Magenta’s leading taxi and private hire dispatch solution, is preparing for a period of significant technical development and business growth.
Darran is an experienced senior finance executive with a proven track record in successfully developing and deploying finance management strategies for FTSE 250 listed companies. He recently held the position of Group Vice President, Finance and IT at Spirent Communications, a multi-national telecommunications testing company with revenue of 455 million USD. Prior to this he was a Divisional CFO at Eurotherm, a supplier of control and measurement instrumentation with a 300 million GBP turnover.
Darran commented that “Reduced investment in software implementation costs and pay-as-you-go deployment models are fuelling market growth. Magenta is already very well placed in the sector and the opportunity ahead is very exciting. I am confident that I can make a strong contribution to the operational development and continued success of the business.”
Anton Dmitriev, Chief Executive Officer of Magenta Technology commented “This is an exciting time for Magenta Technology and we are delighted to welcome Darran to the team as we transition to the next stage of our development. The global routing and resource optimisation software markets are entering a period of unprecedented growth and the combination of technologically advanced solutions, already deployed at the cutting edge of the private hire, delivery and service industries, with proven financial expertise and experience from Darran will ensure we are ideally placed to capitalise on this opportunity.”
The global route and resource optimisation software market is segmented by component, deployment type, end-use industry and region. Magenta defines itself as a software developer with a strong customer service ethos.
The global route optimisation software market was recently valued at 2,905 million USD, projected to rise to nearly 9,500 million USD by 2023. With operators in the retail and FMCG industries demanding reduced logistical costs and increased operational efficiencies, this growth is predicted to be increasingly satisfied by pay-as-you-go deployment models in cloud environments, such as those offered by Magenta.
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