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Ventia Services Group (ASX:VNT) has signed a five-year agreement with Telstra (ASX:TLS) which will see it provide support and optimisation services for the latter’s critical digital infrastructure.
The deal – expected to net more than $400 million in annual revenue for Ventia – will involve honing the delivery of design, construction, and maintenance of infrastructure, including lifecycle management across Australia and fixed network services for Telstra’s digital infrastructure facilities.
Additionally, Ventia will be involved in the designing and construction of asset relocation and commercial works, as well as the continuation of some services related to network design and construction.
Wideband, optical fibre, data, IP networks, and wireless plans are all included in the deal.
Ventia CEO and Managing Director, Dean Banks, said the deal would build on an already strong business relationship with the telecommunications giant.
“We are proud to have been a trusted partner to Telstra for nearly 30 years and we are excited to expand our partnership to support their strategic goals,” he said.
Existing contracts between the two companies are set to expire in December, and works under the new contract will begin in early 2025.
Ventia has been trading at $3.45.
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