NYWKF - NTG Clarity Signs a Framework Agreement for Outsource/Offshore Services with an Estimated Value of $3.5 Million CAD
(TheNewswire)
Toronto, ON - T heN e wswire - January 11, 2022 - NTG Clarity NetworksInc. (TSX.V:NCI); NTG Clarity is pleased toannounce that it has signed a 1-year renewable Framework Agreement foroutsource and offshore resources with a leading bank in the GulfRegion. We received the fully executed contract on January 10, 2022.We will provide resources in most IT disciplines, with a focus onspecialized skills such as full stack developers, mobile appdevelopers and architecture for applications, data, businessintelligence and security. NTG will provide candidates for over 100job titles and the resource onboarding should start at the beginningof February 2022 . We expect to start approximately 30 resourcesonshore/offshore within the first 4 months for an annual estimatedrevenue of $3.5 Million CAD. The estimated expenses for this revenueis $2.5 M illion CAD. Our target is todouble this number within 6-8 months to meet the expected staffinglevels of this customer. Revenue would increase accordingly.
With COVID-19 and the ongoing trend toward remote work, we areexperiencing increased demand for our offshore services. Our centre inEgypt has been rapidly expanding to meet the increased demand. Thiscentre provides resources, facilities and turn-key projects to thebanking, telecom, and transportation sectors as well as governmentagencies.
“This 1-year renewable agreement affirms the continued recognitionof the NTG brand as a provider of quality resources and services withcompetitive pricing. In 2022, we look forward to capitalizing on thisbrand recognition to expand the reach of our offshore services.”said Kristine Lewis, NTG Clarity’s President.
About NTG Clarity NetworksInc.
NTG Clarity Networks’ vision is to be a global leader in providingnetworking solutions. As a Canadian company established in 1992, NTGClarity has delivered networking, IT and network enabled applicationsoftware solutions to network service providers and large enterprises.More than 300 network professionals provide design, engineering,implementation, software development and security expertise to theindustry’s leading network service providers and enterprises.
Forward Looking Information
Certain statements in this release, other than statements ofhistorical fact, are forward looking information that involves variousrisks and uncertainties. Such statements relating to, among otherthings, the prospects for the company to enhance operating results,are necessarily subject to risks and uncertainties, some of which aresignificant in scope and nature.
These uncertainties may cause actual results to differ frominformation contained herein. There can be no assurance that suchstatements will prove to be accurate. Actual results and future eventscould differ materially from those anticipated in such statements.These and all subsequent written and oral forward looking statementsare based on the estimates and opinions of the management on the datesthey are made and expressly qualified in their entirety by thisnotice. The Company assumes no obligation to update forward lookingstatements should circumstances or management's estimates or opinionschange.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
For Further Information:
Kristine Lewis, President, NTG Clarity NetworksInc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: klewis@ntgclarity.com
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