IQGeo ticked higher as it announced a “major new contract” with an existing telecoms customer described as one of the world’s top five wholesale fibre network providers with operations in the US and Europe.
The contract has a total value of US1.9 million over three years including US$400,000 of software per annum with the customer replacing its incumbent fibre system of record, currently provided by GE, with IQGeo’s Network Manager Telecom product.
IQGeo added it will also support the customers' rapidly growing and increasingly complex fibre networks.
Richard Petti, IQGeo’s chief executive, commented: "This new project demonstrates how vital our lifecycle network management software strategy is to the success of broadband operators and the confidence they have in the IQGeo team.”
Shares rose 3% to 290p.