Top 5 telecom operator expands IQGeo deployment

IQGeo Group PLC

20 December 2023

 

RNS Reach

IQGeo Group plc

(the "Company" or the "Group")

Global top 5 telecom operator expands IQGeo deployment to accelerate broadband rollout

IQGeo (AIM: IQG), a developer of geospatial software that is "Building better networks" for telecom and utility operators, is pleased to announce that further to the original announcement in July 2022, one of its largest tier 1 telecom customers in North America has expanded its deployment of IQGeo's software. Under the terms of the extended agreement, the customer is increasing the user licences by 7 times the initial cohort, and 11 times the number of demand points for the automated planning and design software, in order to accelerate the rollout of its fibre broadband network to millions of new customers. The two-year contract extension has a total ACV value of over US$2.7 million per annum and a total contract value of more than US$10.0 million.

Using IQGeo's fibre planning and field mobility software, the customer has automated the planning and design process and linked it directly with field surveys and construction. The integrated network approach dramatically reduces the time required for planning and construction, streamlines field work, and improves network data quality. This optimisation is saving the customer millions in operational cost and accelerating time to revenue for its broadband business.

Richard Petti, CEO, commented that "In 2023 the Fiber Broadband Association reported another record year for fibre deployments, with more than nine million additional homes passed in the United States. We continue to see very strong investment momentum for fibre deployment projects around the world and IQGeo is recognised as an industry leader. We are successfully securing new fibre-focused customers, large and small, and growing our footprint within existing accounts as is evident by this exciting new expansion contract."

For further information contact:

IQGeo Group plc                                                                                    [phone]

Richard Petti

Haywood Chapman

Cavendish Capital Markets Limited                                                      [phone]

Henrik Persson, Seamus Fricker (Corporate Finance)

Tim Redfern, Charlotte Sutcliffe (ECM)

This is an RNS Reach announcement and the information contained is not considered to have a significant impact on management's expectations of the Group's performance. RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on RNS Reach.

Notes to Editors

About IQGeo

Telecommunication, fiber, and utility operators are "Building better networks" with IQGeo's award-winning network management software. The ability to powerfully model any network requirement, integrate every system and data source, and support field and office teams with continual innovation is helping operators create the networks of the future. Our solutions ensure greater cross-team collaboration and process efficiency throughout the network lifecycle, from planning and design to construction, operations, and sales.

Whether it's highly competitive fiber and 5G broadband rollouts or complex utility grid modernization projects, customers trust IQGeo's Integrated Network and Adaptive Grid solutions. We partner with large multinationals and smaller regional operators to deliver the digital innovation they need to accelerate time-to-revenue, increase network resilience, improve operational safety, and deliver ROI.

For more information visit: www.iqgeo.com/

Copyright © 2023, IQGeo UK Limited. IQGeo is a registered ® trademark

 

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