ikeGPS Group (ASX:IKE) has signed a major deal to roll out its cloud-based pole system for one the largest global fibre and communications companies.
ikeGPS uses laser measurement solutions to capture and record measurement data. Field data collection professionals use ikeGPS products to modernise the way measurements are taken and shared.
The IKE4 system has been designed to speed up network assessment for fibre and communications companies.
The company will deploy circa 112 IKE4 systems during the first phase in the U.S. market.
ikeGPS has already recognised a revenue of circa $1.3 million from its initial deployment in FY18 with an ongoing recurring revenue of circa $400,000 per annum.
The company has received orders for circa 260 IKE systems year-to-date, which is circa 1.2 x the volume of system sales made in the prior full year to March FY17.
Importantly, more than US$175 billion is expected to be invested into expanding U.S. fibre infrastructure over the next four years
ikeGPS is now engaged across four of the six largest players in this market along with new deployments and additional sales and pilots through 1H FY18 into other large asset owners.