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BUZZ-Quindell: up on Canadian contract win

Reuters - UK Focus

** British IT outsourcer and consultancy Quindell (Xetra: M6FA.DE - news) 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 (LSE: BATS.L - news) , ING Groep NV (Amsterdam: INGA.AS - news) , Aviva Insurance Plc, Peugeot (Paris: FR0000121501 - news) , Royal Mail Plc (LSE: RMG.L - news) and Old Mutual Plc (Other OTC: ODMTY - news) .

** 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. (http://link.reuters.com/waw68v) (RM (LSE: RM.L - news) : noor.hussain.thomsonreuters.com@reuters.net)