Cambridge, 9 February 2023 - IQGeo (AIM: IQG), a developer of geospatial productivity and collaboration software for the telecoms and utility industries, is pleased to announce the extension of its existing relationship with a Global Top 5 telecom operator.
This follow-on contract for IQGeo's integrated Project and Construction Management software is in line with expectations, is co-termed with the original 3-year deal and has a further software subscription value of US$4.2 million (US$1.5 million ACV) and US$0.5 million of services. This follow on contract demonstrates the expansion and upsell opportunities afforded by the integrated software suite. The integrated Project and Construction Management software will streamline processes associated with the build out of fiber networks that were planned using IQGeo's fiber network planning and design software.
The IQGeo integrated Project and Construction Management software seamlessly complements the fiber planning and mobile software previously sold and will play a key role in one of the largest FTTx and 5G build outs in the US, supporting millions of new customers in communities across the country. This fully integrated digital solution will streamline processes to alleviate inefficient resource bottlenecks and data silos by providing a common planning, design, and field walkout platform for internal staff and external contractors.
Richard Petti, CEO, commented that " We are extremely pleased to be expanding our relationship with this strategic US-based customer. We will begin with a production deployment in selected areas with a view to a nationwide rollout in subsequent phases. This expansion continues the trend of Tier 1 operators purchasing new business systems to design, build and operate their next generation communications networks and this partnership demonstrates the important role that IQGeo is playing in the global effort to bring fiber broadband and mobile communications to communities worldwide."
This article was originally published on Proactive Investors.
Read the full results announcement on the London Stock Exchange.
Previous
