IVE Group has signed a non-binding Letter of Intent with Westpac Banking Corporation to provide its print management and graphic design services for the next five years.

The deal follows a ‘competitive tender process’ for the large Australian bank’s contract, and a binding agreement is set to be executed by March 31, and is intended for a five year term.

This contract rides on the coattails of an outstanding 2015 for IVE Group, which saw the company successfully floating on the ASX, winning a major contract with fast food giant McDonalds, the acquisition of telemarketing group Pareto and the incorporation of Blue Star Group under the IVE umbrella.

IVE says itself and Westpac are planning an ‘expected full service rollout within the first half of 2016’.

Neither parties have disclosed the value of this deal or named the other companies which competed for the tender.  

The win comes on the back of IVE’s successful IPO in December, which saw 47.5 per cent of the company sold for $2 a share. Six weeks later in a volatile market the shares are still at $2.

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