ASSET VISION WINS SIGNIFICANT MULTI-YEAR CONTRACT TO SUPPLY ITS SAAS PLATFORM ACROSS VENTIA’S ROAD PORTFOLIO

We are pleased to announce a multi-year contract win with Ventia, one of the largest infrastructure service providers in Australia and New Zealand.

Asset Vision Pty Ltd, a wholly owned subsidiary of FFT, provides an industry leading Intelligent Asset Management platform, known as Asset Vision.

Asset Vision’s Software as a Service (SaaS) platform plays a vital role in keeping roads and transport assets safe and more reliable for the community.  It connects Asset Owners, Maintainers and Contractors to provide an integrated view of the health of transport infrastructure. The platform also provides a powerful mobile app for workforce management, enabling maintenance crews and inspectors to work safely and efficiently in the field.

Ventia has selected Asset Vision to initially supply the solution across a number of its Road contracts. This significant contract win materially strengthens Asset Vision’s footprint across Victoria, New South Wales and Queensland, where it is being used in the operation and maintenance of major roads.

As one of Australia and New Zealand’s leading essential service providers, Ventia specialises in the long-term operation, maintenance and management of critical public and private assets. Ventia’s client base extends across all major industries including Defence, Roads, Telecommunications, Education, Energy & Electricity, Health, Industrial, Justice, Local Government, Maritime, Mining & Minerals, Property, Oil & Gas and Rail.
This initial contract is to supply the Asset Vision platform across some of Ventia’s road maintenance contracts for a three + two-year term, with the potential to extend to other Ventia Road contracts.
We expect licence revenue to commence before 30 June 2021 with an initial total contract value in excess of $2M.

“We have worked with Asset Vision since 2020 and have been impressed with the platform and quality of their team. Asset Vision understands our core needs and is aligned in building cost-effective and innovative outcomes for Ventia and our clients. We look forward to continuing our ongoing relationship.” – Peter Borden, Group Executive – Transport, Ventia

Commenting on the win, FFT’s CEO, Keith Falconer said: “To be selected by an industry leader such as Ventia, is a satisfying endorsement of the strategic direction of FFT and we look forward to the future with growing confidence in our technology and people.”

The FFT board looks forward to providing updates on pipeline wins and product innovations in the near future.
This announcement has been authorised for release by FFT’s Board of Directors.

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