Service Stream Limited – Extension of contract with nbn

The Network MACs and Restoration Activities (NMRA) contract with NBN Co ltd. (nbn) has been extended by the leading network services company, Service Stream Limited (ASX: SSM). Another 6 months thereafter to 30 June 2020, is an option to extend the contract.

Service stream will also continue to provide nbn with service to the maintenance, improvement and relocation of infrastructure across its fixed line broadband network, under the contract which was earlier executed in 2012 as the Network Augmentation and Restoration Activities (NARA) contract and which has been extended a number of times.

Revenue from the NMRA contract over the additional 18 month term is estimated to be in the order of $45 million, supplementing that arising from the customer activation and service assurance activities undertaken for nbn under the much larger Operations and Maintenance Master Agreement (OMMA) which Service Stream has held since December 2015.

Managing Director, Leigh Mackender said: “We are very pleased that by extending the NMRA, nbn has demonstrated further confidence in Service Stream’s ability to support its operation of the National Broadband Network and the enhancement of its customers’ experience. We look forward to continuing as one of nbn’s most trusted delivery partners.” SSM stock is trading at a current market price of $1.522 before market close on June 28, 2018.


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