FirstWave extends Microsoft contract with increased value

ASX-listed FirstWave Cloud Technology said it has extended its contract with Microsoft .

The new 12-month agreement is valued at over $600,000, representing a 27.5 per cent increase from the previous contract.

The increased value is primarily due to expanded software implementation and an increase in the number of licensed nodes.

FirstWave has been working with Microsoft on various products and environments since 2021.

Danny Maher, FirstWave's chief executive, said the agreement supports the company's goal of growing its network management presence in North and Latin America.

He added that these markets present significant opportunities for FirstWave's growth ambitions.

In the fourth quarter of 2024, FirstWave's Network management information systems operations secured over $530,000 in new sales and renewals.

Clients included Claro Ecuador, Claro DR (Dominican Republic), Macquarie Cloud Services, and Services Australia.

The company also recently refined and extended an agreement with Telstra.

FirstWave, founded in 2004, provides enterprise-grade network management, automation, audit, and cybersecurity software.

The company said its software is used by over 150,000 organisations across 178 countries.