Significant new European customer win
29/09/2023 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:20230929:nRSc0863Oa&default-theme=true RNS Number : 0863O IQGeo Group PLC 29 September 2023 RNS REACH IQGeo Group plc (the "Company" or the "Group") Significant new European customer win IQGeo (AIM: IQG), a developer of geospatial software that is "Building better networks" for telecom and utility operators, is pleased to announce a significant new win in a competitive tender with a Tier 1 national utility and broadband operator in Southern Europe with a total contract value over six years of more than €8.6 million, comprising of software licences of approximately €4.2 million (being a perpetual licence of €0.7 million and ACV of €0.59 million per year over the six years of the contract) and the remainder as services. This contract was won in a highly competitive bid process which established this new flagship customer, a well-funded operator with ambitions to deliver full fibre broadband to more than 3 million customers in six years. IQGeo was selected for its ability to provide a single end-to-end software solution for the entire network lifecycle from planning and design, through construction, and long-term maintenance. Richard Petti, CEO, commented that "We are delighted that we have been chosen to provide an end-to-end software solution for this prestigious customer. This new tender win demonstrates our competitiveness and how vital our lifecycle network management software strategy is to the success of broadband operators and the confidence they have in the IQGeo team to deliver on their vision. Equally pleasing is that this tender has been won by our EMEA team and further demonstrates the success of the Comsof acquisition that was completed just over a year ago." For further information contact: IQGeo Group plc +44 1223 606655 Richard Petti Haywood Chapman Cavendish Capital Markets Ltd +44 20 7220 0500 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, fibre, 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 fibre and 5G broadband rollouts or complex utility grid modernisation 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/ (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. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NRAFFFLFALITFIV