- Essential network services company Service Stream (SSM) has signed a significant long-term agreement with nbn
- Under the new agreement, Service Stream will be responsible for network operations, maintenance and optimisation services for the National Broadband Network
- The new deal is expected to generate around $60 million in revenue for Service Stream in the first year
- On the market this afternoon, Service Stream is up 7.44 per cent and is trading for $1.95 per share
Essential network services company Service Stream (SSM) has secured a significant long-term agreement with nbn.
The companies have signed a new unified field operations agreement.
In the new agreement, Service Stream will be responsible for network operations, maintenance and optimisation services to the National Broadband Network.
The new deal is expected to generate around $60 million in revenue for Service Stream in the first year.
Under the unified agreement, nbn initially awarded Service Stream works across Victoria, New South Wales, Queensland and ACT, while additional works can be added at nbn’s discretion.
The agreement is for an initial four years with two options to extend the deal, which will be at nbn’s election. It will also replace the existing network maintenance and restoration agreement (NMRA).
Service Stream and nbn signed the NMRA in September 2012 and it has been extended since then.
“As a leading provider of operations and maintenance services to the telecommunications industry, we are pleased to secure this long‐term maintenance agreement with nbn and to continue providing vital support to its customers,” Managing Director Leigh Mackender said.
“We are very proud that this award further demonstrates the confidence that nbn has in Service Stream’s ability to provide critical network maintenance and upgrade services to the National Broadband Network. We look forward to continuing as nbn’s leading network maintenance delivery partner for many years to come,” he added.
On the market this afternoon, Service Stream is up 7.44 per cent and is trading for $1.95 per share at 3:40 pm AEST.