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Norwood Systems Secures Major Contract with Optus, Expands Global Reach

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Norwood Systems Secures Major Contract with Optus, Expands Global Reach

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Norwood Systems Ltd ( (AU:NOR) ) has issued an update.

Norwood Systems Ltd has secured a significant five-year contract with Optus, valued at $2.98 million, to replace its national voicemail platform with Norwood’s CogVoice solution. This achievement, along with meeting early project milestones and receiving associated cash inflows, has strengthened Norwood’s financial position. The company is also expanding its pipeline with Tier-1 operators globally, leveraging strategic partnerships with Microsoft and AWS to drive further growth. Showcasing its OpenSpan application at MWC Barcelona in collaboration with Microsoft has bolstered Norwood’s reputation as a leading innovator in the telco AI space.

More about Norwood Systems Ltd

Norwood Systems Ltd is a leading cloud-native voice service platform innovator, focusing on providing advanced communication solutions such as CogVoice and OpenSpan. The company is actively engaged in the telecommunications industry, partnering with major players like Microsoft and AWS to enhance its offerings and expand its market reach globally.

YTD Price Performance: -45.00%

Technical Sentiment Signal: Buy

Current Market Cap: €7.14M

Learn more about NOR stock on TipRanks’ Stock Analysis page.

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