Toronto, ON - TheNewswire - November 18, 2024 / NTG Clarity Networks Inc. (TSX.V:NCI, OTC: NYWKF); NTG Clarity is pleased to announce it has received new orders totaling approximately $10.3M CAD for new work and renewals from new and existing customers in the IT, telecom, financial and education sectors.

 

NTG is capitalizing on the immense, long-term opportunity created by Saudi Arabia’s transformative push toward digitization and economic diversification—a historic shift unleashing billions of dollars in investment and fueling growth for decades to come.

 

Along with significant macro tailwinds driving new client wins, NTG is generating robust growth from its existing customer base. This growth is underpinned by two key factors: annual contractual escalations and the deepening trust of long-standing clients, who are increasingly awarding NTG a larger portion of their IT budget.

 

In the last while NTG has won:

 

• $2.05M in new work across multiple Purchase Orders (“POs”) to provide offshore and onsite software development services. 

• $7.68M in contract renewals for offshore and onsite software development services, reflecting customer satisfaction with NTG’s services. 

• $574K across multiple POs to provide customization and support to our NTG Apps platforms for new and existing customers in the Telecom and IT sectors, demonstrating the growing demand for NTG’s software product suite throughout its target market. 

 

“This year, we’ve achieved remarkable success, with our clients renewing at the same or even higher rates. This underscores the deep trust they have in us and the exceptional value they continue to experience on an ongoing basis,” said Adam Zaghloul, Vice President, Strategy & Planning of NTG Clarity. “Our commitment to delivering high-quality service at competitive prices is exceeding client expectations and fueling growth. By consistently meeting the evolving needs of our clients, we’re not just retaining their trust—we’re winning over new clients and accelerating momentum with significant new contract wins.”

  

About NTG Clarity Networks Inc.

NTG Clarity Networks’ vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG Clarity has delivered software, networking, and IT solutions to large enterprises including financial institutions and network service providers. More than 950 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry’s leading enterprises.

 

Forward Looking Information

Certain statements in this release, other than statements of historical fact, are forward looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.

 

These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The company assumes no obligation to update forward looking statements should circumstances or management's estimates or opinions change.

 

For Further Information:

Adam Zaghloul, Vice President, Strategy & Planning

NTG Clarity Networks Inc.

Ph: 905-305-1325

Fax: 905-752-0469

Email: adam@ntgclarity.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.