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IQGeo Group PLC on Tuesday said it has won ‘significant’ new contracts with a US telecom provider and a German broadband operator. The provider of geospatial productivity and collaboration software for the telecoms and utility industries said the German contract has a minimum annual contract value of €2 million over a three-year period, with phase one service revenue of €350,000. Meanwhile, the US contract has a value of $2 million over three years and includes IQGeo cloud hosting services. The firm said both customers were previous IQGeo of Comsof software users. The unnamed German customer is ‘one of the largest and most ambitious’ broadband operators, planning to pass over 800,000 houses per year for the next six years as it looks to accelerate fibre deployment, the firm said. IQGeo said its Network Manager Telecom software will replace the client’s current GIS software, creating a single solution to support its fibre network through planning, design, construction and long-term operation. Meanwhile, the company said it has a long-term relationship with its unnamed US customer, but that the contract is a ‘significant expansion’ of its software footprint, as it also replaces GIS with IQGeo’s Network Manager Telecom software. IQGeo said it will provide end-to-end support to the client, unifying their previously disconnected network systems. Chief Executive Richard Petti 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.’ IQGeo shares rose 4.4% to 264.20 pence each on Tuesday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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