Utilities management provider, Intermoco Limited (INT), announced that it has signed a three-year licensing agreement with Sydney Water for the continued use of the Company’s meter reading system. The licensing agreement provides Sydney Water with continued access to Intermoco’s meter reading system and enables customer data to be efficiently transferred from the field via the internet to Sydney Water. This agreement provides Intermoco with additional revenue past 30 September 2010 when the current maintenance and supply contract with Sydney Water was to end.
Intermoco CEO, Ian Kiddle said: “The licensing agreement with Sydney Water continues Intermoco’s long standing relationship with the utility provider that has been in place since 1997. “Demand amongst Australia’s leading utilities providers continues to grow, and we now provide our meter reading solutions to over 30 metropolitan and regional utilities providers in the energy and water management sectors around Australia. “We are witnessing Intermoco’s market share in the utilities management sector steadily increase, which has led to strong growth in the company’s expected revenue base in the final quarter of the 2010 financial year and into 2011.”
