FirstWave Cloud Technology (ASX:FCT) secured a new 12-month agreement with Microsoft and an annual recurring revenue uplift, according to a Friday filing with the Australian bourse.
The contract has a total value of about $507,000, representing an 18% uplift on the previous agreement, the filing said.
The company secured sales agreements worth AU$1.8 million in three weeks, including a contract extension with Telstra (ASX:TLS) worth AU$600,000, per the filing.
FirstWave's shares rose nearly 19% in morning trade Friday.
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