Spectur (ASX:SP3) to provide security solutions to Optus

• Spectur (SP3) signs a $1.07 million contract with Optus for a multi-year roll-out of its hardware, software and services subscriptions to protect its remote assets
• The parties signed a five-year master supply agreement and a two-year statement of works (SoW) contract with Singapore Telecommunications
• Revenue under the previous contract was $230,000, but with the new contract works the current SoW has been valued at $838,000
• Managing Director Gerard Dyson says this is a “milestone award” for the company
• On the market this afternoon, Spectur was up 3.26 per cent and is trading at 9.5 cents per share

Spectur (SP3) has signed a $1.07 million contract with Optus for a multi-year roll-out of its hardware, software and services subscriptions to protect its remote assets.

The company signed a five-year master supply agreement and a two-year statement of works (SoW) contract with Singapore Telecommunications (Singtel), Optus’ parent company.

The contracts replace an existing SoW which allowed for Spectur’s provision of solar-powered security hardware, field and monitoring services, and software subscriptions suitable for security applications on remote Optus assets across Australia.

Revenue under the previous contract was $230,000, but with the new contract works the current SoW has been valued at $838,000.

The next phase of work will be delivered between the signing of the master supply agreement and March 31, 2022.

Spectur’s Managing Director Gerard Dyson said this is a “milestone award” for the company.

“Through trialling and optimisation, integration of software systems and a constructive working relationship, Optus and Spectur have arrived at a solution that has a substantial positive impact,” Mr Dyson 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.

“Spectur continues to engage with other utilities providers around supplying similar services that have demonstrated a beneficial outcome.”

On the market this afternoon, Spectur was up 3.26 per cent and is trading at 9.5 cents per share at 3:40 pm AEDT.