FirstWave Extends and Expands Telmex Agreement

Global network management and cybersecurity software group FirstWave Cloud Technology Limited (FirstWave) (ASX: FCT) is pleased to announce it has secured an extension and uplift to its technology support agreement with Latin America’s leading telecommunications group, Telmex.

The agreement is a significant component of FirstWave’s relationship with Telmex and includes support across multiple modules within FirstWave’s Network Management Information Systems (NMIS) platform.

The revised agreement includes an uplift in total value of nearly 10%. Full details of the agreement are subject to confidentiality.

Telmex (telmex.com) is the dominant telecommunication company in Mexico, with more than $5 billion in revenue. FirstWave also works closely with Telmex’s sister companies, Claro, in Ecuador, Dominican Republic and Guatemala. All the companies are part of the América Móvil, S.A.B. de C.V. [BMV: AMX] [NYSE: AMX, AMOV] conglomerate.

Telmex has utilised a range of FirstWave products since 2011. In late 2023, the relationship was expanded with Telmex becoming a reseller of FirstWave’s industry-leading NMIS platform by bundling the software with its network sales.

FirstWave CEO Danny Maher said the new agreement reflected the strength of the company’s relationship with Telmex.

“We continue to work with the Telmex team across multiple different licensing and servicing opportunities and look forward to further expanding the relationship in the future where the opportunities come to fruition,” he said.

Mr Maher said that Latin America remained a critical market for FirstWave and the company had numerous opportunities to expand its presence in the region.

“There is a large, untapped market for network management software in these markets, and we have built a highly prospective pipeline of new opportunities with current and new clients,” he said.

 

ENDS

This announcement has been authorised for release by the Board of Directors.

 

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