18th Nov 2019 10:57
(Alliance News) - IQGeo Group PLC on Monday said it has secured two new contracts, worth in excess of USD1.2 million, with an existing undisclosed customer.
The AIM-listed company, which provides software for the telecommunication and utility industries, said the unnamed client is based in the US and serves over 700,000 electric and natural gas customers.
IQGeo said the first contract covers licences for its geospatial software together with recurring maintenance and support, and the second contract is for professional services.
The new software contract increases the number of licensed users and expands the customer's mobile capability by adding IQGeo's Capture product, it said.
"This is a great example of the usage expansion pattern we're seeing across our telecoms and utility customers. Following initial deployments, network infrastructure providers soon recognise the benefits of our mobile-first architecture and increase both the number of user licences and the range of use cases our products can solve," said Chief Executive Richard Petti.
IQGeo shares were trading 0.4% higher in London on Monday morning at 44.18 pence each.
By Evelina Grecenko; [email protected]
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