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SmartSpace Software (LON:SMRT), a provider of ‘Workspace Management Software’ for smart buildings, commercial spaces and hospitality, saw its shares rise by 4% to 96.5p after announcing it has won a contract with a leading but un-named international bank.
Under the deal the initial engagement includes a five-year license for the company’s Workspace Management Software Applications and platform, with professional services enabling deployment and configuration of the on-premise solution. This deployment will consist of fully integrating a native mobile application with meeting rooms, desk management and space visualisation & analytics.
The five -year contract also includes the option to expand the engagement to introduce additional services across the client’s operations on country by country basis, subject to the client’s requirements. The license value of the contract, which was not revealed, is expected to be recognised in the current financial year in accordance with accounting standards subject to meeting the contract’s obligations.