IQGeo Group PLC (AIM:IQG) said it has won expanded new contracts with a major German broadband operator and a top-tier US telecom provider.
Both clients are paying to use IQGeo’s Network Manager Telecom software as their strategic core technology for the long-term growth and management of their full fibre and hybrid networks, it added.
The contract with the German customer was said to have a total minimum annual contract value of more than €2mln over three years, with the US customer signing a three-year contract with a value of more than US$2mln, including IQGeo cloud hosting services.
The German customer is employing IQGeo’s digital twin software as its plans to roll out fibre broadband to more than 800,000 houses a year for the next six years.
Over in the US, the new contract builds on a long-term business relationship and sees a “significant expansion” of IQGeo’s software footprint as the client replaces its long-time geographic information system with Network Manager Telecom.
IQGeo said its software provides a unique end-to-end network model that will support the customer’s full fibre and HFC technology architectures, consolidating their previously disconnected network systems into a single unified solution, with an open and flexible design that enables the integration of other data streams to support the entire lifecycle of the network.
In a statement, Richard Petti, chief executive of the AIM-listed company, said: “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.”