IQGeo Group PLC Top 5 Japanese utility expands IQGeo deployment

TIDMIQG

IQGeo Group PLC

03 July 2023

RNS REACH

IQGeo Group plc

(the "Company" or the "Group")

Top 5 Japanese utility expands IQGeo deployment

IQGeo (AIM: IQG), a developer of geospatial software that is "Building better networks" for telecom and utility operators, is pleased to announce that an existing top 5 Japanese utility customer has signed a new subscription agreement to significantly expand its use of the IQGeo software for emergency response. With the number of corporate software user licenses increasing by 10,000, the total software Annual Contracted Value or "ACV" for this customer will grow by approximately 100% to more than GBP1.1 million.

This customer is already using the IQGeo software to prioritise and co-ordinate emergency response activities and mitigate risk during natural disasters. The success of the emergency response solution has led to the new expanded deployment that will enable access to the IQGeo software for all employees. The enhanced "digital twin" solution will provide live situational awareness of their grid for all departments, delivering greater collaboration and efficiency for its increasingly complex electrical network.

Richard Petti, CEO, commented; " This expanded deployment in Japan is an excellent illustration of how successful usage of our software leads to significant contract extensions. This customer has already proven the strategic benefits our software brings to their business and has a very clear vision for sharing its core electric grid assets with virtually every employee. Over the years we have established a trusted relationship and are proud to continue working with them on the next step in their digital transformation journey."

For further information contact:

   IQGeo Group plc                                                           [phone] 

Richard Petti

Haywood Chapman

   finnCap Ltd                                                                  [phone] 

Henrik Persson, Seamus Fricker (Corporate Finance)

Tim Redfern, Charlotte Sutcliffe (ECM)

Notes to Editors

About IQGeo

Telecommunications and utility operators are "Building better networks" with IQGeo's award-winning software solutions. The ability to powerfully model any network requirement, integrate every system and data source, and support field and office teams with continual innovation is helping operators create the networks of the future. Our solutions ensure greater cross-team collaboration and process efficiency throughout the network lifecycle, from planning and design to construction, operations, and sales.

Whether it's highly competitive fiber and 5G broadband rollouts or complex utility grid modernization projects, customers trust IQGeo's enterprise solutions, OSPInsight fiber management, and Comsof automated design software. We partner with large multinationals and smaller regional operators to deliver the digital innovation they need to increase network resilience, operational safety, and business ROI.

For more information visit: www.iqgeo.com/

Copyright (c) 2023, IQGeo UK Limited. IQGeo is a registered (R) trademark

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July 03, 2023 02:00 ET (06:00 GMT)