Highlight
- CommSys agreement for Corona® GTS services now live and will begin ramping up to annual recurring revenue value of circa AUD$300,000 over the coming quarter.
‘Sharing Economy’ telecommunications pioneer Norwood Systems Ltd (Norwood or the Company) (ASX: NOR) is pleased to advise that the Corona GTS services to be delivered under the CommSys agreement announced on 3 April are now live, with billable operations having commenced. Over the coming quarter, revenue under the CommSys agreement is expected to ramp up to the projected recurring run-rate of AUD$300,000 p.a.
Under the sales agreement, Norwood will provide CommSys with communications services using the Corona Global Trunk Services (Corona GTS) platform, a service that enables Norwood’s clients to connect directly to its low-cost global federated telco network, in more than 70 countries around the world.
The CommSys agreement and continued recognition for Norwood as detailed further in this announcement conclude a strong two months for Norwood, with success in product and sales business divisions. Consumer market development is continuing with loyalty partner Affinion and other businesses in the sector, while its Enterprise Sales team continues to develop a healthy contract pipeline post signing CommSys.