Optus variation order boosts Spectur contract to over $2m
Solar security and visual artificial intelligence solutions company Spectur (ASX: SP3) has signed an updated statement of works with Optus Fixed Infrastucture, implying a $956,000 increase to the original contract signed two years ago.
The updates extend the multi-year roll-out of Spectur hardware, services and software subscriptions to protect and service remote assets of Australian telecommunications companies Optus and Australia Tower Networks.
This variation extends the term of the statement of works to December 2025 and updates the goods and services to reflect optimised practices and updated technology.
It also updates the pricing and works schedules as well as the estimated value under the statement of works from $1.06 million to $2.02 million.
It is expected that purchase orders will be issued in the near term, comprising a subset of the $956,000 added to the statement of works.
Master Supply Agreement
Spectur entered into the original five-year master supply agreement (MSA) and two-year term statement of works with Optus in November 2021.
The MSA is with parent company Singapore Telecommunications (or Singtel) while the statement of works applies to Optus’ assets within Australia.
Both agreements were originally due to expire in 2026 and 2023 respectively.
Expanding deployment
Spectur managing director Gerard Dyson said the variation will help continue and expand the deployment of its platforms to Optus.
“We commenced supporting Optus and Australia Tower Networks in 2020 over this time we have worked to improve and update our hardware, software and reporting systems, to suit their operations,” he said.
“We see this step-up in our engagement with Optus and a validation of the return on investment that we can deliver for our blue-chip customers.”
He said the variation follows a “record start to 2023 sales”, with January and February results continuing a month-on-month growth and underpinning a confidence in strong revenues across the remainder of the financial year.