(TheNewswire)
Toronto, ON - TheNewswire - April 19, 2022 - NTG Clarity Networks Inc. (TSX.V:NCI); NTGClarity is pleased to announce that on April 19, 2023 it signeda three year Professional Services Supply Agreement with a leading ITservices company in the Gulf Region that provides services to both thepublic and private sectors. NTG will provide software development andIT resources both onsite and offshore in our Egypt Offshoring Centre.The work starts April 19, 2023 and NTG has started onboarding of theresources. The customer will issue purchase orders for each group ofresources that are selected.
It is worth mentioning that this is one of the largest offshoringagreements for NTG to-date. This agreement in its whole three yearsduration has a maximum value ceiling amount of approximately $10.7MCAD and estimated expenses of $8M. As this is a Frame Agreement, itwill be utilized by the issuing of Purchase Orders (POs). The actualamount of the Agreement will depend on the value of the POs thecustomer issues to NTG.
Egypt’s offshoring industry is witnessing an unprecedented momentumof growth. The country enjoys many competitive advantages thatestablished its reputation as a favorable global offshoringdestination. The diverse IT and digital services, abundance of talent,cost competitiveness, resilient business operations, and thegovernment’s support are among Egypt’s unique value propositionthat encourage global enterprises to launch and expand their globaloperations. It is estimated that the value of Egypt’s digitalexports will increase by $1 billion USD annually, marking asignificant growth to the current export revenue of $4.9 billion USD (source: https://itida.gov.eg/English/PressReleases/Pages/ Egypt-IT-offshoring-and-business-services-sector-sees-strong-growth-momentum.aspx )
NTG is well positioned to capitalize on this growth and be one of themajor players due to the following:
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NTG has been in the global and Egyptian markets for 30 years.
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NTG has a strong presence in the Middle East market and an excellentreputation with its many tier-one business customers.
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NTG has a large pool of experienced professionals.
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NTG invests heavily in hands-on training of new graduates for the jobmarket through its technical academies and training programs.
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NTG has a proven well documented outsourcing/offshoring model,processes, and procedures.
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NTG builds a close partnership with its customers based on trust,professionalism, flexibility, transparency, and a win-win strategy.
“With this agreement with this new important customer, and the manyother agreements we have signed in the last year, we look forward tobeing – and are working hard to be – one of the major serviceproviders in this technology field in the Middle East. We invite anyorganization considering outsour cing oroffshoring to collaborate with NTG for all of their professionalservices needs,” 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 500 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.
The TSX Venture Exchange does not accept responsibility for theadequacy 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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