ikeGPS Group (ASX:IKE, NZE:IKE) won two new multi-year software subscription contracts, with a total initial value of around NZ$3 million, according to a Monday Australian and New Zealand bourse filings.
Overall, the two companies deliver power to more than 6.5 million US customers.
One of the contracts will lead to over 700 engineers at an electric utility using IKE Poleforeman's advanced capabilities to meet grid resiliency and network capacity targets over the coming decades.
Additional engineering companies and communications groups, working across these power utility's networks, are also expected to adopt IKE PoleForeman long term.
It expects further subscription contracts to close in the short and medium term.
The firm's shares rose 8% on the Australian bourse and 9% on the New Zealand bourse in recent trading on Monday.
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