News - Contract Extension NTG Clarity receives deal extension for Gulf customer
2014-03-13 08:26 ET - News Release
Mr. Ashraf Zaghloul reports
NTG CLARITY AWARDED $3.4 MILLION LETTER OF INTENT FOR NTG RESOURCES
NTG Clarity Networks Inc. has received a letter of intent from a leading mobile operator in the Gulf region to provide software development resources, telecom consultants and project management resources. NTG has already started work on this LOI and approximately 25 per cent of the total amount was recognized in 2013. The remainder of the LOI is expected to be completed by the end of June, 2014.
This is the confirmation of the extension of one of the contracts mentioned in our shareholder update release on March 12, 2014.
"In the last few years, we have been working hard to establish ourselves as a leading provider of quality telecom software products and services in the Gulf region. The renewal of this contract reflects the increasing satisfaction and confidence of our customers with regards to our extensive expertise in telecom systems and operator requirements," said Ashraf Zaghloul, NTG Clarity's chairman and chief executive officer.