IQGeo announces major new telecoms customer in USA

RNS Number : 8731X

IQGeo Group PLC

03 September 2020

 

IQGeo Group plc

(the "Company" or the "Group")

IQGeo announces major contract with new tier 1 telecoms operator in the USA, and provides notice of interim results

IQGeo Group plc (AIM: IQG) is pleased to announce a significant new contract for software licenses and services with a large tier 1 telecoms network operator. This new contract has an overall value of USD 0.8m (GBP 0.6m) comprised of both a software licence subscription to be recognised over the next three years and certain implementation services to be recognised over the next two years.

This new customer operates across more than 25 US states with a team of 10k employees providing high-speed internet, TV entertainment and phone services to 1.2m connections in nearly 900 rural, suburban, and metropolitan communities. With an initial deployment of 240 software licenses, they will be using the IQGeo Platform and Workflow Management software to improve construction process efficiency and productivity to support a major investment in expanding their fibre network infrastructure.

Richard Petti, CEO at IQGeo, said :  "We are very pleased to announce this excellent new logo with a tier 1 telecoms operator. It is another great example of the success we are having with our software subscription revenue model in our target market. The IQGeo software will be deployed across the construction process, providing a strong ROI and solid foundation for a long-term relationship with this customer."

The Company will release its interim results for the six months to 30 June 2020 on 14 September 2020 and will deliver an online results presentation open to all existing and potential investors on that day. Please visit the following registration page to attend the presentation: https://www.investormeetcompany.com/iqgeo-group-plc/register-investor

For further information contact:

IQGeo Group plc   [phone]

Richard Petti

Tim Gingell

finnCap Ltd   [phone]

Henrik Persson, Matthew Radley (Corporate Finance)

Tim Redfern, Richard Chambers (ECM)

Notes to Editors

About IQGeo

IQGeo™ (AIM: IQG), a leading developer of geospatial software, delivers improved 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/

 

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