NOR 0.00% 2.4¢ norwood systems limited

Ann: Norwood wins Contract to Supply Software Technology

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    Norwood Wins Four-Year Contract to Supply Software Technology to Spark New Zealand Contract signed with Spark NZ Highlights • Norwood has won a contract to supply smartphone Apps and related software components to Spark New Zealand • A contract for supply of software licences and professional services with estimated revenue to Norwood of approximately NZD $1.1 million. “Virtual Mobile Communications as a Service” pioneer Norwood Systems Ltd (“Norwood” or the “Company” (ASX: NOR) is pleased to announce it has signed a contract with Spark NZ (“Spark”, New Zealand’s leading digital services provider. The contract is anticipated for four years and includes committed upfront payments for initial development, installation and commissioning works to be supplied by Norwood for smartphone App software licenses and associated software component licenses, as well as recurring fees for a baseline minimum number of user licenses over the contract period. Norwood’s CEO and Founder, Paul Ostergaard, said: “This contract signing comes after an extensive technical and commercial engagement between Spark NZ and Norwood. “We are delighted to be working with Spark, whose agility, forward-thinking and responsiveness have been highly evident during our engagement with Spark leading to this contract.” Spark is New Zealand’s leading digital services provider, and one of the largest companies by value on the New Zealand Stock Exchange. As of 30 June 2018, Spark had 2.4 million mobile connections and 700,000 broadband connections.
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