MTI Wireless Edge secures $1.5m Israeli contract extension

(Sharecast News) - Communication solutions firm MTI Wireless Edge said on Thursday that has secured a three-year contract extension.

MTI said its Mottech Water subsidiary secured the contract extension with "one of the largest municipalities in Israel".

The AIM-listed firm stated the extension was worth approximately $1.5m over the 36-month period.

Chief executive Moni Borovitz said: "This is another good example of the quality of service we provide for our customers over the long-term and their satisfaction with our services. As we have said before, all new service agreements include price increases and of course add to our recurring revenue streams."

As of 1045 BST, MTI Wireless shares were up 1.80% at 50.90p.

Reporting by Iain Gilbert at Sharecast.com

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