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 their 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 £1.1 million.
This customer is already using the IQGeo software to prioritize 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.”