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(Alliance News) - IQGeo Group PLC on Wednesday announced a "major" new contract with an existing customer with a unnamed wholesale fibre network provider operating in the US and Europe.
IQGeo, the provider of geospatial productivity and collaboration software for the telecoms and utility industries, said the deal was with the unnamed firm who has a software annual contract value of USD400,000 and a total contract value of over USD1.9 million over three years including ACV and services.
The new project comprises a major strategic decision to replace its incumbent fibre system of record currently provided by General Electric Co with IQGeo's network manager telecom software.
IQGeo said it was "again chosen for its lifecycle network management capabilities that will support the customers' rapidly growing and increasingly complex fibre networks".
"This new project demonstrates how vital our lifecycle network management software strategy is to the success of broadband operators and the confidence they have in the IQGeo team to deliver on their vision," said IQGeo Chief Executive Officer Richard Petti.
"I'm very pleased to see how the momentum for our software continues to build across the global telecom industry with both new and existing customers."
Shares in IQGeo were down 0.2% to 280.44 pence each in London on Wednesday afternoon.
By Greg Rosenvinge, Alliance News reporter
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