Technology services provider Ness Technologies Ltd. (Nasdaq: NSTC; TASE: NSTC) has won a $3.7 million contract with Meitav Regional Water and Sewage Corporation Ltd.
Under the contract, Ness will provide development, improvement and maintenance services for the company's SAP-based enterprise resource planning and billing system.
The system, called Meitavit, is an end-to-end water and sewage services management system. The system's components include financial, logistics, procurement, inventory, control, billing and collections, customer relationship management (CRM), project management and human resources. The billing and collection component uploads water meter readings transmitted remotely from the meters across the city.
The five year deal is worth NIS 14.1 million, or around $3.7 million. The contract also includes an optional 3-year extension, valued at an additional NIS 8.5 million, or approximately $2.2 million.
Meitav provides water and sewage services to 90,000 households, businesses and public institutions in the towns of Petah Tikva (the sixth largest city in Israel), El'ad, and Kafr Bara, east of Tel Aviv. Meitav claims that it serves approximately 250,000 inhabitants in total.
Meitav CEO Hanoch Milo said, "The end result of the implementation of these advanced systems is the maintenance of a high quality, professional, reliable customer service system; an improved and expanded support system for conducting broad infrastructure work; and supporting the system of current water tests."
Ness closed yesterday at $4.52, giving it a market cap of $171.76 million.