icetana AI has landed its largest Australian contract to date, signing a $376,000 SaaS deal with Millennium Services Group for deployment at a major Queensland shopping centre.
- Largest Australian sale for icetana AI valued at $376,000
- Contract spans 60 months, billed as software-as-a-service
- Partnership with Millennium Services Group, linked to SoftBank Robotics
- Deployment planned for Q1 2026 at a large retail centre in northeast Queensland
- Adds $75,200 annually to icetana AI’s recurring revenue
icetana AI’s Breakthrough Australian Contract
icetana AI, a specialist in self-learning security software, has announced its largest Australian contract to date, securing a $376,000 deal with Millennium Services Group. This milestone deal, structured as a software-as-a-service (SaaS) agreement over five years, marks a significant step in icetana’s growth within the Australian security market.
Millennium Services Group, a major player in security and cleaning services across Australia and New Zealand, is a new partner for icetana AI. Notably, Millennium is majority-owned by SoftBank Robotics, a strategic partner and significant shareholder in icetana AI, highlighting the synergy between these entities.
Strategic Deployment and Revenue Impact
The contract covers deployment at a large retail shopping centre in northeast Queensland, spanning over 107,000 square metres and housing 345 shops. This deployment is expected to commence in the March 2026 quarter, reinforcing icetana AI’s foothold in the retail security sector.
Financially, the deal will contribute $75,200 annually to icetana AI’s recurring revenue, enhancing the company’s revenue predictability and growth prospects. CEO Kevin Brown emphasized the importance of leveraging the SoftBank Robotics partnership to drive new sales and expand recurring revenue streams.
Market Position and Future Outlook
icetana AI’s technology addresses the challenge of monitoring vast surveillance networks by automating real-time event detection, reducing reliance on human operators. This contract not only validates the company’s technology in a demanding environment but also strengthens its reputation among security integrators servicing large shopping malls.
While the initial contract term is five years with payment upfront, future revenues depend on customer renewal, introducing some uncertainty beyond the initial period. Additionally, as this is a new trading relationship, the company faces typical trade credit risks without prior payment history.
Overall, this deal underscores icetana AI’s growing influence in the Australian market and its ability to capitalize on strategic partnerships to fuel expansion.
Bottom Line?
This contract sets the stage for icetana AI’s deeper market penetration and recurring revenue growth in Australia’s retail security sector.
Questions in the middle?
- Will Millennium Services renew the contract beyond the initial five years?
- Can icetana AI replicate this success with other SoftBank Robotics partners?
- How will the deployment at the Queensland shopping centre impact operational performance?