IQG selected by major US & German fibre operators
11/07/2023 07:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230711:nRSK5693Fa&default-theme=true RNS Number : 5693F IQGeo Group PLC 11 July 2023 RNS REACH IQGeo Group plc (the "Company" or the "Group") IQGeo selected by major US and German fibre operators IQGeo (AIM: IQG), a developer of geospatial software that is "Building better networks" for telecom and utility operators, is pleased to announce significant new contracts with a tier 1 US telecom provider and one of Germany's leading broadband operators. Both of these customers were previous IQGeo or Comsof software users and these expansion projects include the sale of IQGeo's Network Manager Telecom software to be used as their strategic core technology for the long-term growth and management of their full fibre and Hybrid Fibre Coax (HFC) networks. The German customer contract has a total minimum ACV of more than €2m over a 3-year period with phase one service revenue in excess of €350k. The US customer signed a 3-year contract with a value of more than $2m that includes IQGeo cloud hosting services. The German customer is one of the largest and most ambitious broadband operators with plans to pass over 800k houses each year for the next six years in an effort to accelerate fibre deployment across the country. To position the organisation for growth, IQGeo's Network Manager Telecom software will replace aging GIS software to provide a single fibre network management solution. The IQGeo technology will underpin the entire network lifecycle with a digital twin of their fibre network from planning and design, to construction, and long-term operations. Project plans include the use of web-based and mobile applications to support the fibre roll-out, as-built documentation, operational process management, and integrations with a new IT infrastructure (e.g. Salesforce, ServiceNow). With the US customer we have a long-term relationship that included the deployment of IQGeo's mobile solution for field crews and contractors and software support services. The new contract was awarded as part of a competitive bid process and represents a significant expansion of the IQGeo software footprint as they sunset the use of their legacy GIS, replacing it with Network Manager Telecom. The IQGeo software provides a unique end-to-end network model that will support their full fibre and HFC technology architectures, consolidating their previously disconnected network systems into a single unified solution. The open and flexible design of the IQGeo software also enables the integration of other business-critical data streams to support the entire lifecycle of their network. Richard Petti, CEO, commented; "These two new contracts are a great example of how we have been successfully expanding the use of our software with existing customers in two of our key markets. We are now seen as an innovation and technology leader in the telecom space and these recent wins put our technology at the very heart of their business operations and validates our upsell and cross-sell strategy we saw from the Comsof acquisition. We are very pleased to be working with these customers to help them achieve rapid fibre rollout and efficient long-term network operations in a highly competitive market." For further information contact: IQGeo Group plc +44 1223 606655 Richard Petti Haywood Chapman finnCap Ltd +44 20 7220 0500 Henrik Persson, Seamus Fricker (Corporate Finance) Tim Redfern, Charlotte Sutcliffe (ECM) Notes to Editors About IQGeo Telecommunications and utility operators are "Building better networks" with IQGeo's award-winning software solutions. 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 enterprise solutions, OSPInsight fiber management, and Comsof automated design software. We partner with large multinationals and smaller regional operators to deliver the digital innovation they need to increase network resilience, operational safety, and business ROI. For more information visit: www.iqgeo.com/ (http://www.iqgeo.com/) Copyright © 2023, IQGeo UK Limited. IQGeo is a registered ® trademark This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. 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