K2fly Ltd (ASX:K2F) shares are trading up 16.2% today or 3.5 cents higher to 25 cents per share.
The most recent market update the company had was on 31 May 2018 where it revealed it had won a short-term interim systems integration contract with Western Power.
Western Power is a Western Australian State Government owned corporation which is responsible for building, maintaining and operating an electricity network which connects over 1.1 million customers.
Up to $550,000 revenue over 3-4 months
The assignment will see K2fly providing leading edge support to the business function relating to a customer relationship management program.
The contract will run for about 3-4 months and due to its size, it will make a material contribution to K2fly’s revenues for FY2019.
The revenues arising from this contract are expected to be up to $550,000.
A technology company targeting asset-intensive industries
K2fly is a technology company which targets asset-intensive industries.
It supplies people and products, and has strategic alliances focussed on solving problems for clients.
K2fly owns the following technologies for use in tier I companies:
• Infoscope: A data collaboration solution;
• ADAM: asset data analysis management; and
• NovIn: real time asset inspection management app.
K2fly also re-sells software and has strategic alliances with global technology companies such as GE (NYSE:GE) and SAP (ETR:SAP).