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- Swift Networks Group (SW1) secures multiple new subscription contracts totalling $2.1 million
- The company won new subscription agreements across multiple sites for key companies within WA’s mining sector, including Pilbara Minerals (PLS), AngloGold Ashanti (AGG), Mineral Resources (MIN), and St Barbara (SBM)
- Swift noted whilst the aggregate revenue from these contracts is material to the company, no individual subscription agreement generated revenue greater than $1 million
- The news follows a recent project win this week worth $2.06 million
- Swift Networks Group last traded at 1.1 cents on March 9
Swift Networks Group (SW1) has secured multiple new subscription contracts totalling $2.1 million in total contract value.
Swift is a tech company that delivers “premium” entertainment and engagement via a platform powered by its own technology and network infrastructure.
The company offers an end-to-end solution, which includes consulting, design and installation services.
The company announced this morning it secured new subscription agreements across multiple sites for key companies within WA’s mining sector, including ASX-listed Pilbara Minerals (PLS), AngloGold Ashanti (AGG), Mineral Resources (MIN), and St Barbara (SBM).
The companies each locked in a range of Swift services, including Swift Access, 24/7 remote support and on-site maintenance, with the subscriptions spanning between one to three years.
Swift noted whilst the aggregate revenue from these contracts is material to the company, no individual subscription agreement generated revenue greater than $1 million.
“These new contracts are significant in that they reflect Swift is on course to deliver its strategy of driving growth in monthly recurring revenue,” Swift CEO Brian Mangano said.
“They also represent increased market awareness and demand for Swift Access across existing and new customers.”
The news follows a recent project win this week valued at $2.06 million.
Swift Networks Group shares were down 8.33 per cent and last traded at 1.1 cents on March 9.
