IQGeo Group Plc (LON:IQG) said it has won a US$800,000 (£600,000) new contract for software licences and services with a large tier 1 telecoms network operator.
The contract comprises a software licence subscription to be recognised over the next three years and certain implementation services to be recognised over the next two years.
The customer will be using the IQGeo Platform and Workflow Management software to improve construction process efficiency and productivity to support a major investment in expanding its fibre network infrastructure.
“We are very pleased to announce this excellent new logo with a tier 1 telecoms operator,” Richard Petti, IQGeo’s chief executive officer said in a statement.
“It is another great example of the success we are having with our software subscription revenue model in our target market. The IQGeo software will be deployed across the construction process, providing a strong ROI [return on investment] and solid foundation for a long-term relationship with this customer," he added.