New Zealand's ikeGPS rises on securing multi-year subscription deal

Ikegps

06/03/2024 03:35

** Shares of ikeGPS Group  IKE.NZ  rise as much as 4.4% to
NZ$0.470, on track for their best day since Jan 19, if current
trend holds
    ** The platform technology co says it signed a three-year
subscription deal worth about NZ$0.8 mln ($486,800) with a U.S.
electric utility, but did not provide the name of the Fortune
500 company 
    ** Co says the contract is for IKE PoleForeman - a software
used by electric utilites & communication companies
    ** Adds that the utility will use IKE PoleForeman for
structural analysis and the design of distribution assets, among
others
    ** Stock down over 9% so far this year
    
    ($1 = 1.6434 New Zealand dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))