Toronto, ON / ACCESSWIRE / November 3, 2014 / NTG Clarity Networks Inc. (TSX.V:NCI), a world leader in the telecommunications OSS/BSS market, is pleased to announce that the Company has signed a contract with its Canadian partner to assume the remaining portion of the contract announced on December 19, 2013, valued at an additional $800,000 USD. Pursuant to the original contract agreement, NTG Clarity was to supply its NTS Asset Management and Discovery Modules to a new customer in a new market. The Company will now be responsible for providing the total solution to the end customer without third party involvement. This project is expected to be completed by April 2015.
With the assumption of the total contract, NTG Clarity's contract value is expected to be $2.2 million USD, up from the $1.4 million USD original contract value. NTG Clarity, the Canadian Partner, and the end customer have signed a three way agreement to formalize the assumption of the contract by NTG Clarity.
"We are very pleased with NTG Clarity's additional involvement in this contract as it increases our revenue in a new market and provides the Company with improved flexibility in completing the project. The additional contract also highlights the increased trust of our customers in our products and services." said Ashraf Zaghloul, NTG Clarity's Chairman and CEO.
ABOUT NTG CLARITY NETWORKS INC
NTG Clarity Networks' vision is to be a leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 280 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Doren Quinton, President QIS Capital
Investor Relations
Ph: 250-377-1182
Fax: 250-377-1183
Email: [email protected]
Kristine Lewis, President, NTG Clarity Networks Inc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: [email protected]
SOURCE: NTG Clarity Networks Inc.