06:21:11 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



NTG Clarity Networks Inc
Symbol NCI
Shares Issued 147,472,355
Close 2022-01-10 C$ 0.045
Market Cap C$ 6,636,256
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NTG Clarity wins $3.5M contract with Gulf region bank

2022-01-11 09:42 ET - News Release

Ms. Kristine Lewis reports

NTG CLARITY SIGNS A FRAMEWORK AGREEMENT FOR OUTSOURCE/OFFSHORE SERVICES WITH AN ESTIMATED VALUE OF $3.5 MILLION CAD

NTG Clarity Networks Inc. has signed a one-year renewable framework agreement for outsource and offshore resources with a leading bank in the Gulf region. The company received the fully executed contract on Jan. 10, 2022. The company will provide resources in most IT (information technology) disciplines, with a focus on specialized skills such as full-stack developers, mobile app developers and architecture for applications, data, business intelligence and security. NTG will provide candidates for over 100 job titles and the resource onboarding should start at the beginning of February, 2022. The company expects to start approximately 30 resources onshore/offshore within the first four months for an annual estimated revenue of $3.5-million. The estimated expenses for this revenue is $2.5-million. The company's target is to double this number within six to eight months to meet the expected staffing levels of this customer. Revenue would increase accordingly.

With COVID-19 and the continuing trend toward remote work, the company is experiencing increased demand for its offshore services. The company's centre in Egypt has been rapidly expanding to meet the increased demand. This centre provides resources, facilities and turnkey projects to the banking, telecom and transportation sectors as well as government agencies.

"This one-year renewable agreement affirms the continued recognition of the NTG brand as a provider of quality resources and services with competitive pricing. In 2022, we look forward to capitalizing on this brand recognition to expand the reach of our offshore services," said Kristine Lewis, NTG Clarity's president.

About NTG Clarity Networks Inc.

NTG Clarity Networks' vision is to be a global leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT and network-enabled application software solutions to network service providers and large enterprises. More than 300 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises.

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