IQGeo Group PLC signs new software contract with Canadian telecommunications network

New contract for software license subscriptions and implementation services is worth £ 1.2million which will be recognized over three years

() said it was awarded a “major new contract” for software and services with a leading Canadian telecommunications network operator.

The AIM-listed company said the new contract is for an order value of £ 1.2million for software license subscriptions and implementation services to be recognized over three years, adding that the new client selected its geospatial platform and Workflow Manager software to “capture and visualize project status, service tickets, and critical network assets for office staff and remote field teams.”

READ: IQGeo raises funds as it targets acquisition of OSPInsight International Inc

“This new winning customer is another great example of how the [return on investment] and the operational benefits of our geospatial software resonate with leading Tier 1 telecommunications operators. existing [hybrid fibre-coaxial] infrastructure for long-term maintenance and disaster response, ”IQGeo CEO Richard Petti said in a statement.

“We are very pleased to see this large network operator join our growing list of customers and look forward to the initial deployment and planned deployment of field and office users in their business over the next three years,” said he added.

In a Tuesday note, analysts at real estate broker finnCap said winning the contract was “very encouraging news” and said IQGeo “can beat the best in the market.”

The broker also said the deal would “smooth income streams and lead to stable and reliable revenue growth” for the company and kept its target price of 110 pence on the share.

Shares of IQGeo climbed 2.4% to 84p early in the session.

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