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IQGeo announces large contract for software and services win from a major telecoms network operator in Canada

The contract has an order value to be recognised over the next two financial years of £1.3mln for perpetual software licences, associated implementation services, and annual maintenance and support

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IQGeo Group Plc (LON:IQG) has announced a large contract for software and services with a major telecoms network operator that serves more than 3.2mln customers in central and western Canada.

The new customer contract has an order value to be recognised over the next two financial years of £1.3mln for perpetual software licences, associated implementation services, and annual maintenance and support, the group added.

READ: IQGeo surges as it forecasts significantly reduced losses for 2020

The company said the new customer will deploy the IQGeo Platform and Workflow Manager software to create a situational awareness and operations support solution designed to accelerate fibre rollout time-to-market and improve customer satisfaction.

Using the IQGeo Platform the customer will integrate a wide range of spatial, operational, and business support systems into a single common geospatial view that will be used by office or mobile field teams, whether online or offline. This provides field crews with a powerful comprehensive view of their network together with maintenance and operational workflows to improve field productivity and reduce the cost and complexity of managing multiple conflicting applications, IQGeo said.

In a statement, Richard Petti, CEO at IQGeo, commented: "This new announcement is on the back of a large customer win we secured with another Tier 1 Canadian telecoms provider at the end of 2020. We have now established 4 of the top 5 Canadian telecoms operators as IQGeo customers and look forward to deploying and growing these accounts over time as they add new users and roll out additional applications to support business-critical activities across their entire operational lifecycle.

"Our large Tier 1 customers around the world provide a strong recurring revenue base for our business and enable long-term growth opportunities as we expand the use of our software with different departments and teams. We are very pleased and excited to be working with this new Canadian customer."

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Price: 98.5 GBX

AIM:IQG
Market: AIM
Market Cap: £56.45 m
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