Uplift to FirstWave's Technology Agreement with Telmex

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

The agreement encompasses 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%," with full details remaining confidential.

Telmex is the dominant telecommunication company in Mexico, generating more than $5 billion in revenue. FirstWave also collaborates with Telmex's sister companies -- Claro in Ecuador, Dominican Republic, and Guatemala -- all part of the America Movil conglomerate.

Telmex has utilized FirstWave products since 2011. In late 2023, the relationship expanded when Telmex became a reseller of FirstWave's NMIS platform by bundling the software with its network sales.

FirstWave CEO Danny Maher emphasized that "the new agreement reflected the strength of the company's relationship with Telmex," noting continued work across multiple licensing and servicing opportunities.

Maher identified Latin America as a critical market for FirstWave, stating the company has "numerous opportunities to expand its presence in the region." He noted "a large, untapped market for network management software" and referenced a prospective pipeline with current and prospective clients.