9th Feb 2023 11:12
(Alliance News) - IQGeo Group PLC on Thursday emphasised its role in the global effort to bring fibre broadband worldwide, after extending its relationship with a Global top five telecom operator.
IQGeo is a Cambridge, England-based developer of geospatial productivity and collaboration software for the telecoms and utility industries.
The follow-on contract is for the company's integrated project and construction management software, which is a digital solution designed to complement previously sold fibre planning and mobile software.
Co-termed with the original three-year deal, it has a further software subscription value of USD4.2 million, and USD5.0 million.
IQGeo didn't specify with whom it has extended its relationship, but noted that the customer was US-based. In July, the company announced a three-year contract with a subscription value of USD3.6 million, for an initial service value of USD2.1 million. It said the customer was "one of the largest US telecom network operators".
On Thursday, IQGeo said the follow-on contract demonstrated "the expansion and upsell opportunities afforded by the integrated software suite".
"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," said Chief Executive Officer Richard Petti.
"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 fibre broadband and mobile communications to communities worldwide."
IQGeo shares were trading 0.7% lower at 210.60 pence each in London on Thursday morning.
By Holly Beveridge; Alliance News reporter
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