Norwood Systems Ltd (ASX:NOR) Secures $2.98M Voicemail Contract with Optus
Contract Details
Norwood Systems Ltd (ASX:NOR) has signed a five-year contract valued at approximately $2.98 million, excluding GST, with Optus to replace its existing voicemail system with Norwood’s CogVoice platform. The agreement includes platform license fees, professional services, support and maintenance, and migration costs, with payments contingent on performance milestones. There is potential for additional premium voicemail services under a future contract.
Platform Features
Norwood’s CogVoice platform, powered by AI technologies, will enhance Optus’ voicemail functionality and user experience. The platform is designed for seamless low-cost deployment, unmatched latency, and full 4G/5G compatibility, providing a solid foundation for future premium call termination services and next-generation telco AI voice applications.
Strategic Significance
This contract aligns with Norwood’s strategic objective to expand global partnerships with Tier 1 Communication Service Providers, reinforcing its reputation as a trusted supplier in the telecommunications industry. The decision follows a successful Proof of Concept in Q4 2023 and is facilitated through the Group Master Supply Agreement with the Singtel Group announced in October 2023.
Executive Comments
Paul Ostergaard, CEO and Founder of Norwood, stated, “We’re thrilled to be supporting Optus on this voicemail refresh project. This contract with Optus marks a significant step for Norwood Systems as a supplier to the telecommunications infrastructure market, reaffirming Norwood’s position as an internationally competitive vendor in the CSP sector. Our CogVoice platform will replace Optus’ legacy voicemail system, introducing AI-driven capabilities and improved operational efficiencies.
This five-year voicemail contract not only validates our technology but will also provide Optus with a solid foundation for modernised call completion services. We’re committed to ensuring a smooth transition for Optus and their subscribers, while exploring how our AI-powered solutions can further enhance their network operations and customer offerings in the future.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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