Highlights:
-- icetana has secured a 4 year maintenance agreement in support of its motion intelligence platform with an existing Middle East customer with several large shopping mall sites; valued at US$132,000 (~A$190,000).
-- The contract reinforces icetana’s focus on building the number of cameras under icetana license, driving Annual Recurring Revenue (ARR) as our most important financial metric.
-- Positive cash impact for icetana as a result of the upfront invoicing of this extended term contract.
icetana Limited (ASX:ICE “icetana” or “the Company”) is pleased to announce that it has signed a material software maintenance agreement for icetana’s motion intelligence video analytics solution to an existing customer which operates several Middle Eastern shopping malls. The customer is icetana’s second-largest in the Middle East.
The contract has a total value of US$132,480 (circa A$190,000) over the four year term. This long term contract is payable 40% in July and 60% in March 2023. It shows the customer commitment to icetana following the initial year of service at one shopping mall site.
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