ITANZ Technologies Limited (PSX: ITANZ) has won a $3.5 million contract to deliver Internet of Things (IoT) and analytics solutions for a leading telecommunications provider in the Middle East, the company announced to the Pakistan Stock Exchange.
The contract positions ITANZ as the technology delivery partner for the multi-million-dollar rollout through its international operations division.
Under the agreement, ITANZ will receive $2.6 million during the initial 24-month deployment phase, with payments structured across four equal six-month installments of $650,000 each.
Following successful completion of the deployment, the company expects to generate $300,000 in annual recurring revenue for three years through subscription and managed support services, bringing the total contract value to $3.5 million.
The post-deployment services will encompass platform access, AI model updates, software enhancements, hardware maintenance, and 24/7 network operations center-backed managed services.
The contract is anticipated to create a stable recurring revenue stream while expanding ITANZ’s footprint in the Middle East telecommunications technology market.