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DealNet Secures 3 Year Contract And At Least $1.5 Mln Revenue

DealNet Capital Corp. (CNSX:DLS) announced Monday that its business process outsourcing (NYSE:BPO) subsidiary, OC Communications Group had secured a three-year contract to provide technical and customer service support to what it calls a North American digital home entertainment services organization.

The agreement, projected to stretch across several years, is projected to yield a minimum of $1.6 million in revenue according to the Toronto based company, with the client's forecast driving that number as high as $3 million.

September marks the beginning of implementation, with full deployment expected in January of next year.

"OCCGI has been a provider of high quality 24/7 technical and customer support for almost 10 years," said COO of DealNet, and president and CEO of OCCGI, Michael Hilmer in a statement released Monday.

"We are looking forward to working with this new customer to grow and support their client base across North America."

Last week DealNet announced that the OC Communications Group had been awarded a 10 year contract providing call center support to what it calls a major government services organization.

It is a new contract for the Toronto-headquartered company, which has been providing services to the public services sector at the provincial level for more than three years. With support commencing on the first day of October this year the program is expected to run until at least September 2024.

Shares of DealNet, a merchant banking company focused on recurring revenue businesses, having recently geared its investments toward the business process outsourcing and consumer financing markets, trading up the day of the news, adding a penny to reach 17 cents per share, an uptick of more than 6 per cent.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.