Intouch Insight hopes multimillion-dollar deal with U.S. tech firm opens door to new markets

intouch

After posting a 25 per cent year-over-year bump in revenues in 2021, Ottawa’s Intouch Insight is looking to keep the sales gains coming after announcing this week it’s landed a multimillion-dollar deal with a major U.S. tech consulting firm.

Intouch (TSX-V:INX) makes software that helps clients track customer satisfaction as well as collect data on issues such as employee health and safety concerns. The company said Thursday it’s signed a contract to provide “geolocation data-capture services” across the U.S. to the NASDAQ-100 customer, which it declined to name.

Intouch said the contract is worth $7 million over an initial five-month term. The Ottawa company said the U.S. client has been a customer of its Georgia-based subsidiary, mystery shopping and audit services provider SeeLevel HX, for the past four years.

Intouch said the data it collects for the client will be used to “optimize a global augmented reality mobile game product.”

In a statement, Intouch CEO Cameron Watt said the deal will open the door to new opportunities for the firm in the field of geospatial data capture. 

“What makes this opportunity particularly exciting, besides its size, is that it illustrates how our core capabilities can extend beyond our current service offerings,” he said. 

“More and more companies are looking to have the real world represented accurately in their virtual world and we have the capabilities to help them make this happen.”

Intouch posted revenue of $16 million for the fiscal year ending Dec. 31, 2021, up 25 cent over the $12.8 million in revenue the company posted in 2020. 

The firm is projecting revenues of more than $22.5 million this year as it looks to build on the SeeLevel acquisition, boost its sales pipeline and secure new contracts from existing clients.

Intouch shares ended the day up a nickel at 80 cents in trading on the TSX Venture Exchange. The company’s stock has risen more than 70 per cent over the past month.