Spectur signs $1.07m contract with Optus to protect remote assets

Spectur ASX SP3 Optus Singtel Singapore Telecommunications
Spectur’s estimated value for the two-year SoW contract with Optus is almost $1.07 million, which includes 49 systems that were installed with the company in 2020 and 2021 prior to today’s announced agreement.

Security and internet of things (IoT) technology provider Spectur (ASX: SP3) has signed a $1.07 million contract with Optus to enable a multi-year roll-out of its hardware, software and services subscriptions to protect the telco’s remote assets.

The company signed a five-year master supply agreement (MSA) with Optus’ parent company Singapore Telecommunications (Singtel) as well as a two-year statement of works (SoW) which operates within the MSA and applies to Optus’ assets across Australia.

The new contract supersedes and wraps up earlier small projects and trialling which allowed Spectur to provide solar-powered security hardware, field and monitoring services, as well as software subscriptions suitable for security applications on Optus’ remote assets.

Revenues under the previous SoW have been $230,000, with new contract works in the current SoW valued at about $838,000.

The next work stage to be delivered between the signing of the MSA and the commencement of phase one of the new SoW in March 2022 is valued at approximately $340,000 (for 66 additional systems).

Milestone contract

Managing director Gerard Dyson said the milestone contract reflects Spectur’s long-term commitment to supporting the country’s telecommunications industry.

“Through trialling and optimisation, integration of software systems and a constructive working relationship, [we] have arrived at a solution that has a substantial positive impact [for Optus and Spectur],” he said.

“We look forward to rolling out this solution at scale and continuing to grow our relationship with Optus through this SoW and future additions.”

Market reach

Dr Dyson said the company was always seeking to broaden its market reach.

“We continue to engage with other utilities providers around supplying solar-powered security solutions which have demonstrated a beneficial outcome,” he said.

“Being able to integrate Spectur software and collected data with existing systems and providers, as well as design and build optimised solar-wireless hardware solutions, provides us with a unique platform to support our customers and communities.”

Security solutions

Spectur is a Perth-based developer of security surveillance and warning solutions powered by solar, IoT, camera and cloud-based technology.

It currently serves customers in Western Australia, New South Wales, Victoria, Queensland and New Zealand.

The company owns the rights to its innovative hardware and software systems which are deployed in the government, utilities, building construction and civil sectors.

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