Norwood Systems Ltd. secures a second new contract, worth approximately $180,000 leveraging developing global technology relationship with Infosys, to supply a proof-of-concept communications solution to an Australian Tier 1 telecommunications operator (Telco). Latest award follows first contract awarded by Infosys earlier this month, for a separate European project, also as part of their global technology relationship. The contract leverages a broader formal global technology relationship that Norwood recently developed with Infosys, a global technology systems integrator (Refer to ASX announcement dated, 4 March 2022), to deliver innovative SaaS-based solutions to Infosys end clients, globally.

In conjunction with the commencement of this global technology relationship, Norwood secured its first contract with Infosys for a new technology development and SaaS services supply project for a European client. That contract is worth approximately $170,000 in revenue to Norwood over the coming 12 months, with potential for additional revenue in the long-term as a result of the subscription-based nature of the solution.