IQGeo Group PLC (AIM:IQG) announced three contract wins for its geospatial and Comsof software worth US$6.5mln.
Two contracts were signed with top-10 US-fibre network operators, the developer of software for telecoms and utility companies said in a statement.
The first is for the use of Comsof, a network planning software, worth US$2.8mln, and constitutes the first €1.5mln (US$1.48mln) tranche of the earn-out consideration for Comsof, acquired earlier this year, while the second is an initial one-year contract worth US$600,000.
“The Comsof wins, one of which is the largest in Comsof's history, so soon after the acquisition, is fantastic news and helps validate our view that the market for the Comsof automated fibre planning software is growing rapidly on the wave of long-term infrastructure investments in fibre rollout,” said chief executive Richard Petti.
IQGeo also agreed on terms with a Dutch energy company for its geospatial software, providing office and field access to its gas and electric network of information.
Field staff members will have access to a single shared network, with the overall contract worth €2.6mln (US$2.57mln) over a six-year subscription plus an initial €0.5mln for services.
"These significant contract wins are further testament to the strength of our offering in the telecom and utility markets,” said Petti.