Join our daily newsletter At The Bell to receive exclusive market insights
- Future First Technologies (FFT) has landed a multi-year contract with Ventia, one of the largest infrastructure service providers in Australia and New Zealand
- Future’s subsidiary Asset Vision provides an intelligent asset management platform of the same name
- According to FFT, the platform’s software-as-a-service (SaaS) function plays a vital role in keeping roads and transport assets safe for communities
- Ventia has selected Asset Vision for an initial three plus two-year term agreement to supply its SaaS solution across a number of road contracts
- FFT says the deal will materially strengthen Asset Vision’s footprint across VIC, NSW and QLD
- Future First expects licence revenue to commence before June 30, with an initial total contract value in excess of $2 million
- Company shares are up 7.04 per cent, trading at 7.6 cents
Future First Technologies (FFT) has landed what it calls a “significant” multi-year contract with Ventia, one of the largest infrastructure service providers in Australia and New Zealand.
Future’s wholly owned subsidiary Asset Vision provides an intelligent asset management platform of the same name.
According to FFT, the platform’s software-as-a-service (SaaS) function plays a vital role in keeping roads and transport assets safe for communities.
Among its many uses, Asset Vision connects asset owners, maintainers and contractors, to provide an integrated view of transport infrastructure health.
Further, it provides a mobile app enabling maintenance crews and inspectors to work safely and efficiently in the field.
On the other hand, Ventia specialises in the long-term operation, maintenance and management of critical public and private assets throughout a multitude of sectors.
The company has selected Asset Vision for an initial three plus two-year term agreement to supply its SaaS solution across a number of the Ventia’s road contracts.
FFT says the deal will materially strengthen Asset Vision’s footprint across Victoria, New South Wales and Queensland, where it is being utilised to operate and maintain major roads.
FFT CEO Keith Falconer commented on the agreement.
“To be selected by an industry leader such as Ventia is a satisfying endorsement of the strategic direction of FFT and we look forward to the future with growing confidence in our technology and people,” Keith said.
Ventia Group Executive of Transport Peter Borden also remarked on the deal.
“We have worked with Asset Vision since 2020 and have been impressed with the platform and quality of their team,” Peter said.
“Asset Vision understands our core needs and is aligned in building cost-effective and innovative outcomes for Ventia and our clients.”
FFT expects licence revenue to commence before June 30, with an initial total contract value in excess of $2 million.
Future First Technologies shares are up 7.04 per cent, trading at 7.6 cents at 2:15 pm AEST.
