IQGeo inks two contracts for $1.2m with existing customer
IQGeo on Monday signed two contracts worth over $1.2m with an existing customer, increasing the number of its licensed users.
The first order covers licences for IQGeo's geospatial software together with recurring maintenance and support, while the second is for professional services.
The customer is a US-based regulated electric and natural gas utility, serving over 700,000 electric and natural gas customers, covering an area of more than 600 square miles.
Chief executive Richard Petti said: "We are very pleased with this significant customer expansion. This is a great example of the usage expansion pattern we're seeing across our telecoms and utility customers. Following initial deployments, network infrastructure providers soon recognise the benefits of our mobile-first architecture and increase both the number of user licences and the range of use cases our products can solve."
The AIM traded company added that it is building strategic relationships that result in multi-year system expansions, adding that it has observed "real momentum".
IQGeo shares were up by 0.41% at 44.18p at 1239 GMT.