Spookfish awarded national CIMIC contract

Company News

by Kathy Skantzos

Geospatial imagery company Spookfish (ASX:SFI) has announced this morning it has been awarded a national contract to provide CIMIC Group (ASX:CIM) with imagery across Australia.

Terms of the agreement include an initial fee and ongoing subscription fees on a user basis, which will vary in accordance with CIMIC’s project pipeline, to a maximum potential value of $250,000 per annum.

The national contract builds on Spookfish’s existing and growing customer base, which includes Western Australian private and government sector organisations.

The imaging technology company said the national contract represents further commercial validation of the Spookfish product in a competitive market in addition to the positive financial impact the agreement has on the company’s revenue.

Spookfish said it was a competitive tender process and expects more national sales opportunities to follow.

Shares in Spookfish (ASX:SFI) are trading 4.94 per cent higher to 8.5 cents.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.