18th Apr 2023 10:50
(Alliance News) - IQGeo Group PLC on Tuesday said its OSPInsight fibre network management software has been selected by a "large tier 1 telecom operator in the US" to replace a competitor's solution.
IQGeo is a provider of geospatial productivity and collaboration software for the telecoms and utility industries. It shares were up 8.1% to 228.00 pence each in London on Tuesday morning.
IQGeo said that it is a "significant" contract for its SMB software division. It has a subscription value of USD500,000 over three years, plus over USD2.0 million in professional services to be recognised this year.
The company added that this reflects its success in securing "larger" customers.
"Operating in multiple markets across southern states, the operator has grown significantly through organic expansion and acquisition. With their existing ESRI-based mapping software unable to meet their increasingly complex requirements, they turned to IQGeo for an optimised fibre network management and workflow solution," IQGeo said.
It explained that the first phase of the project uses IQGeo's fibre industry experts to migrate network data from disparate systems into a single shared System of Record.
Chief Executive Officer Richard Petti said: "This is a large contract for our SMB division and another example of our success in replacing legacy competitive systems with our innovative software. We are confident that future project phases with this new customer will require expansion in the number of IQGeo software licenses and in the range of applications we can provide."
IQGeo also said on Tuesday that it has for the second consecutive year received Carbon Neutral Organisation status for its 2022 carbon footprint assessment.
By Sophie Rose; Alliance News reporter
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