K2fly signs Sibelco

Technology company K2fly has signed a three-year contract with Belgium-based Sibelco, which will use the company’s resource reporting software across 60 international sites.

Sibelco is a global material solutions company, operating in 174 production sites in more than 30 countries.

It is K2fly’s second industrial minerals customer in Western Europe.

Subiaco-based K2fly says the contract demonstrates continued demand for the company's SaaS solutions and validates its position in the industrial minerals sector.

The company said its total contract value for its SaaS solutions, RCubed and Infoscope, had risen to more than $5 million.

“The trend is expected to continue with further multi-year contractual negotiations in the pipeline,” K2fly told the market today.

The potential contracts are still in negotiations.

Shares in K2fly closed down 4.2 per cent to trade at 23 cents per share.