IQGeo Group PLC (AIM:IQG)’s three contract wins “highlight the opportunity from the summer acquisition of Comsof”, said finnCap, which kept its forecasts and 165p target price unchanged.
Analysts at the bank said the two contracts announced in the US demonstrate the need for automated design and planning fibre rollouts, especially in the States.
FinnCap also expects the group’s €3mln earn-out consideration from Comsof to be fully paid, with the first contract in America triggering a €1.5mln payout.
IQGeo also announced a win in a “competitive tender” in the Netherlands, building the group's presence in Europe.
One of the key reasons for the acquisition of Comsoft, said the broker, was building IQGeo's presence in mainland Europe to take advantage of the growing opportunities in the region.