IQGeo Group PLC (AIM:IQG), the geospatial software company, said it is expanding its deal with one of Japan’s top electrical utility providers to help improve the efficiency of responding to emergencies.
With the deal worth around £550,000 and providing an extra 10,000 licenses for IQGeo’s corporate software to workers, the unnamed Asian utility firm will now pay £1.1mln annually.
Richard Petti, chief executive officer at the AIM-listed group said: “This expanded deployment in Japan is an excellent illustration of how successful usage of our software leads to significant contract extensions."
Currently, the client uses the product to improve the response time of emergency services and mitigate the risk of natural disasters.
Due to the success of the software, the customer is considering expanding so that “virtually every employee” can use it.
“The enhanced 'digital twin' solution will provide live situational awareness of their grid for all departments, delivering greater collaboration and efficiency for its increasingly complex electrical network,” the UK tech group said in a statement.
IQGeo shares opened 2.7% higher in early morning trading on Monday.