Evolving Systems Gets Five-Year Software Contract
Evolving Systems (EVOL) received a $3.6 million, five-year order to provide local number portability software to an unnamed telecommunications service provider.
The deal includes software licensing and related support fees and calls for Evolving to share in the revenue generated by the customer's use of the LNP software. Evolving, a maker of telecom and wireless data services software, also said it believes there is the potential for "significant, additional recurring revenues" over the life of the contract.
Evolving, which is based in Englewood, Colo., said only a portion of the $3.6 million will be recognized in the fourth quarter due to the recurring revenue nature of the contract.
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