ikeGPS Group Limited (NZX:IKE/ASX:IKE) (“IKE” or “the Company”), the company setting the standard for collecting, managing and analysing pole and overhead asset information for North American electric utilities, communications companies and their engineering service providers, is pleased to announce that it has won a material long-term contract with a national engineering services business operating across the U.S. communications and utilities market. Their use of the IKE Platform will translate to approximately $0.7m revenue per annum.
IKE is also pleased to announce Crown Castle International Inc. (CCI), the largest provider of communications infrastructure for cell towers, small cells, and fiber in the U.S., has standardized on the IKE Platform for pole-related 5G and fiber deployment processes. IKE originally described CCI’s profile to the NZX and ASX in July 2020 and this marks the first time that it has been able to name them as a significant customer. Over the past quarter IKE has deployed its systems into an initial eight CCI regions.
IKE CEO Glenn Milnes, commented: “We are pleased to be closely aligned with CCI. Our objective is to get CCI networks built and to market faster, be it fiber or 5G construction, where the IKE platform has proven to more than double their pre-construction speeds for network deployments.”
“The majority of the revenue opportunity for IKE relating to CCI standardization however comes from their 200+ engineering service providers, as opposed to CCI itself.”
CCI’s 2020 Director of National Construction Small Cell, Robbie Heaps, said: “Delivering on the Crown Castle promise calls for a modern approach to how small cell and fiber data is collected in the field and then processed in our back office. IKE brings the platform and a creative and resourceful team to reduce permitting acceptance times. We’re leaning on them to improve our speed to market.”
Commenting on the signing of the material and long-term engineering service provider (ESP) contract, Glenn Milnes continued: “We are also pleased to have closed this large and long-term contract with an important national ESP. Like many ESP’s, this group perform network engineering for multiple communications businesses and in this case for AT&T Inc., Verizon Inc., as well as CCI. The expected revenue from this ESP contract is $0.7m per annum based on run rate IKE Platform usage.”
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