Service Stream Ltd (ASX:SSM) has inked a $1.9 billion long term agreement with NBN Co to take on a range of services for NBN’s core network technologies.
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Organised under a new Field Module – which will consolidate and replace two Unified Field Operations Agreements in place since 2021 – the activities will comprise network assurance, service assurance and service activation for the network technologies, which include aerial infrastructure.
The $1.9B pricing for this work encompasses the initial five-year term of the project, which will also have a two-plus-one year extension option.
Crucial to the deal is the fact that Service Stream will have exclusive responsibility for works across Victoria, South Australia, Western Australia, and the Northern Territory.
Managing director Leigh Mackender said the agreement reflected the strong relationship between the network services provider and NBN.
“It is with great pleasure that the business confirms the award of this significant agreement, reinforcing Service Stream as one of nbn’s long-term strategic partners of operations and maintenance services,” he said.
“We are delighted that nbn has shown confidence in Service Stream’s expertise, capability, and commitment to partner together and collectively deliver improved operational outcomes and enhanced end-customer experience into the future.”
SSM shares moved up on the news, and at 1:09pm, they were trading at $1.74 – a rise of 2.96% since the market opened.
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