NowVertical secures $1.2m data modernization contract

NowVertical Group Inc. (TSX-V: NOW) announced it has signed a $1.2 million contract with the European division of a global media and telecommunications company. The data and AI solutions provider will migrate the client's core reporting systems from legacy on-premises infrastructure to Google Cloud Platform.

The contract represents one of NowVertical's largest statements of work and is expected to be completed substantially within fiscal 2026. The engagement will bring the cumulative lifetime revenue from this client relationship, which began in Q4 2022, to approximately $10 million by the end of 2026.

The project involves migrating several hundred business-critical reporting views across customer, finance, billing and supply-chain domains to a cloud-native Google Cloud Platform foundation. This infrastructure will support the client's analytics, AI and operational reporting requirements.

NowVertical secured the contract following two discovery phases where it demonstrated its Now Unlock AI delivery framework. The company stated that its proprietary AI agents analyzed legacy code, schemas and lineage, delivering an estimated 90% reduction in analysis time compared to conventional manual-migration approaches.

"Enterprise data modernization projects have traditionally involved significant time and cost associated with analysis and planning. NowUnlock is designed to accelerate project timelines and improve economics for enterprise clients," said Sandeep Mendiratta, Chief Executive Officer of NowVertical.

The Toronto-based company provides data and analytics solutions and services, helping clients transform data into business value using AI technologies. NowVertical targets a gross margin range of 48-52% through its AI-infused delivery model across various industries and geographic markets.

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