IQGeo Group PLC IQGeo announces major contract expansion

TIDMIQG

IQGeo Group PLC

30 June 2020

IQGeo Group plc

(the "Company" or the "Group")

IQGeo announces major contract expansion with a leading telecoms operator

IQGeo Group plc (AIM: IQG) is pleased to announce a significant expansion in software licenses across new teams within one of Canada's largest telecoms network operators. This latest contract has an overall value of CAD 1.2m (GBP 0.7m) including increased software licence subscriptions and subscription renewals to be recognised over the next two years, together with additional implementation services to be recognised in the next year.

Following a successful initial deployment of the IQGeo Platform to replace legacy software and digitise formerly manual operational processes, this contract expansion extends the use of the IQGeo software into the customer's construction and bid management teams. Using the IQGeo software in these departments enables digitisation and automation of key parts of the operational lifecycle of the telecoms network assets, significantly reducing construction planning times.

Richard Petti, CEO at IQGeo, said : "We are very pleased to announce this contract expansion into the construction and bid management teams with a major tier 1 Canadian telecoms operator. Our innovative Workflow Manager software was launched in 2019 and is building sales momentum with customers and prospects thanks to its strong ROI. This contract expansion also reflects a common trend we see with our customers extending functionality to address additional operational processes, thereby deepening our relationship and building long-term revenue streams."

For further information contact:

IQGeo Group plc +44 1223 606655

Richard Petti

Tim Gingell

finnCap Ltd +44 20 7220 0500

Henrik Persson, Matthew Radley (Corporate Finance)

Tim Redfern, Richard Chambers (ECM)

Notes to Editors

About IQGeo

IQGeo(TM) (AIM: IQG) a leading developer of geospatial software that improves productivity and collaboration across enterprise planning, design, construction, maintenance and sales processes for telecoms and utility network operators. Our mobile-first enterprise solutions create and maintain, an accurate view of complex network assets that is easily accessible by anyone, wherever and whenever needed. Specialized applications combined with our open IQGeo Platform help network operators create a single source of network truth to meet their digital transformation ambitions and operational KPIs. Our award-winning, cloud-enabled solutions save time and money, and improve safety and productivity, while enhancing customer satisfaction. Headquartered in Cambridge, with offices in Denver, Frankfurt and Tokyo, we work with some of the largest network infrastructure operators in the world. For more information visit: www.iqgeo.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

NRABIGDLBBDDGGC

(END) Dow Jones Newswires

June 30, 2020 02:00 ET (06:00 GMT)

Ubisense (LSE:UBI)
Historical Stock Chart
From Oct 2024 to Nov 2024