IQGeo awarded significant contract

RNS Number : 7806L

IQGeo Group PLC

10 September 2019

 

10 September 2019

IQGeo Group plc

(the "Company" or the "Group")

IQGeo awarded significant contract

IQGeo Group plc (AIM: IQG), a market leading provider of geospatial productivity and collaboration software for the telecommunications and utilities industries, is pleased to announce that, since the trading update in July, it has continued gaining new customers and has recently been awarded a contract by a US based mid-sized telecommunications company worth a minimum of USD0.6m comprised of initial installation and configuration and a 3 year software subscription.

IQGeo successfully licensed its extended product set. The initial contract includes IQGeo's software platform together with its Operations Manager and the recently launched Network Manager products, along with associated implementation services. IQGeo provides this new customer with an end-to-end, enterprise solution that includes the ability to design and roll out fiber networks, as well as monitor operations in real-time and deliver the technical and geospatial information needed by field engineers directly to their mobile devices.

Richard Petti, CEO, said on the recent win: "We are delighted with the win because it shows that our strategy to extend our product capabilities and provide it as a software subscription service is resonating with and meeting the needs of the mid-sized telecommunications market in North America. The win also demonstrates how investments in the development of our product range and a shift to software subscriptions is creating momentum for our entire business."

Once fully implemented, the customer will benefit from a single solution for updating and managing its telecommunications network and controlling its field engineers, improving collaboration and productivity.

For further information contact:

IQGeo Group plc                                                                                 [phone]

Richard Petti

Tim Gingell

finnCap Ltd                                                                                          [phone]

Henrik Persson, Anthony Adams (Corporate Finance)

Tim Redfern, Richard Chambers (ECM)

Tulchan Communications LLP                                                          [phone]

James Macey White, Matt Low, Deborah Roney

Notes to Editors

About IQGeo

IQGeo™ (AIM: IQG) is a leading developer of geospatial software for the telecommunications and utility industries, accelerating productivity and collaboration across enterprise planning, design, construction and maintenance processes. Our reality-centric solutions create and maintain a real-time, accurate view of complex network assets, dramatically improving data quality and currency.  IQGeo's open, mobile-first architecture streamlines operational processes using any device, in the office or in the field, enabling greater business collaboration. We help network operators meet their digital transformation ambitions, saving time and money, while improving safety and enhancing customer satisfaction. Headquartered in Cambridge UK, with offices in Denver USA, Frankfurt Germany and Tokyo Japan we work with some of the largest network infrastructure operators in the world. For more information visit: https://www.iqgeo.com/

 

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