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iCetana Limited (ASX:ICE)

ALERT: Price-sensitive ASX Announcement for ICE
Current share price for ICE : $0.038 0.009 (31.03%)+
Announcement
Release
10 Mar 2026 8:25AM
Price at Release
$0.029
Full Release
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Summary
icetana Limited announced a significant $2.1 million expansion renewal with its major client Majid al Futtaim Properties, a leading Middle East shopping mall conglomerate. This agreement entails a software-as-a-service (SaaS) contract valued at approximately US$1,488,000 (equivalent to ~A$2,100,000), which will be distributed over 36 months. The renewal includes an expansion in camera licenses, leading to a 53% increase in the customer's annual recurring revenue (ARR) of US$146,000 (~A$209,000), effective from 6 March 2026. The iCetana AI software, which enhances security and reduces guard costs, has been integral to MAF’s operations across 16 shopping malls since 2016. The contract further consolidates icetana’s standing in the security solutions market for large-scale mall operations.
Key Points
  • icetana AI received a $2.1 million renewal from Majid al Futtaim Properties.
  • Contract value is US$1,488,000, billed over 36 months as SaaS.
  • Expansion increases customer’s annual recurring revenue by US$146,000.
  • MAF has been a significant client since 2016, using icetana AI in 16 malls.
  • The renewal signifies a 53% contract size increase.
  • The deal underpins icetana’s reputation in the mall security market.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.