The Whispir Ltd (ASX: WSP) share price has returned from the Christmas break in fine form.
At the time of writing, the communications workflow platform provider’s shares are up 8% to $2.07.
Why is the Whispir share price charging higher?
Investors have been bidding the Whispir share price higher this morning after it announced a multi-year contract with global telecommunications leader Singtel. As well as being the parent company of Optus, Singtel has a presence in Asia and Africa and reaches over 750 million mobile customers in 21 countries.
According to the release, the contract has a minimum value of SG$1.3 million (A$1.32 million) for professional services and software licence fees. In addition, transactional usage fee revenue will be generated, representing revenue upside. The contract has an initial three-year term with an optional two-year extension.
What does the contract involve?
The release explains that Whispir will replace Singtel’s enterprise-wide core notification systems, which comprise multiple third-party vendors and internal products, with a single, user-friendly platform integrated with existing applications.
The company notes that its solution enhances App Push, Email, Voice, WhatsApp and Rich Message capability to enable more impactful and personalised communication for Singtel across all stakeholders, at scale.
Whispir’s CEO, Jeromy Wells, commented: “Singtel is a globally recognised brand that has selected Whispir to unlock more value from its digital services. We believe this signals a step-change in the way businesses in the region are looking to use the Whispir platform to transform their businesses and communicate more effectively with their stakeholders.”
The company’s Vice President of Asia, Andrew Fry, added: “Singtel was attracted to Whispir because our secure, scalable, cloud-based platform meets the rigorous demands and diverse use cases that an enterprise customer, the likes of Singtel, requires.”
The post Why is the Whispir (ASX:WSP) share price shooting 8% higher? appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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