Asset Vision wins $1.55 million enterprise asset management contract
The City of Whittlesea has awarded Asset Vision Co Limited (ASX: ASV) a five-year contract, following a competitive tender, to implement and provide a cloud-based enterprise asset management platform. Whittlesea is described as a major metropolitan council in Melbourne’s north.
The initial five-year term is valued at $1,548,800 excluding GST, commencing 19 October 2026. The council may extend the contract by up to five additional years, which would bring the total potential value to approximately $3.0 million excluding GST.
Winning through a competitive tender means the platform was selected through a formal tender process for a major metropolitan council. The announcement was dated 20 October 2026.
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Contract terms at a glance
The City of Whittlesea contract has an initial term and an extension option held by the council. The table below sets out the disclosed figures.
Initial term and extension option
| Term | Duration | Value excl. GST | Condition |
|---|---|---|---|
| Initial term | 5 years | $1,548,800 | Commencing 19 October 2026 |
| Extension | Up to 5 additional years | $1,453,047 | Council may extend, subject to approved budgets and satisfactory performance |
| Total potential | Up to 10 years | Approximately $3.0 million | Includes extension |
The extension is at the council’s option and depends on budgets and performance, so it is not guaranteed. The announcement does not disclose a revenue recognition schedule.
What the platform will support
According to the announcement, the solution will support:
- Asset registers
- Financial management
- Lifecycle forecasting
- Maintenance and works management
Whittlesea manages more than 550,000 assets valued at over $5.34 billion.
How enterprise asset management works for councils
Enterprise asset management software gives an organisation a single system to record and manage the physical assets it owns. For a council, that typically means items such as roads, buildings, parks and drainage.
Such systems generally keep a register of each asset, forecast when assets may need renewal, and schedule maintenance and works. Linking those functions to financial management helps teams plan spending alongside day-to-day operations.
For investors, the relevance lies in the nature of the customer. Councils hold long-lived infrastructure, so they generally need systems that operate over multiple years. This is consistent with Asset Vision’s stated strategy of building long-term customer relationships.
The council’s long-lived infrastructure fits the recurring revenue model that underpinned Asset Vision’s FY26 ARR growth of 46%, alongside 110% net revenue retention and a falling share of revenue from its top three customers.
Strengthening Asset Vision’s position in local government
The company said the award strengthens its position in local government. It also said the contract supports its strategy of building long-term customer relationships through a platform that connects asset planning with everyday operational delivery.
The Whittlesea award follows other recent contract wins across Transport, Civic and Community, and Social Infrastructure, including a deal covering 150,000 NSW social housing dwellings that opened a new vertical for the company.
Management view
Damian Smith, Co-Founder & Co-CEO Product and Technology
“The City of Whittlesea award demonstrates the breadth and flexibility of our platform. AV is highly configurable, integrates with councils’ existing systems and can be implemented quickly to support how their teams work. Our AI capabilities make capturing and using asset data faster, safer and easier, supporting better maintenance and investment decisions…”
Lucas Murtagh, Co-CEO Growth and Corporate
“Forward-thinking councils are looking beyond systems that no longer meet their needs. […] The City of Whittlesea award builds on the momentum we are seeing across all our verticals as more infrastructure owners and service providers look to modernise how they manage their assets.”
Strategy and investor takeaways
Three points stand out from the announcement:
- The award supports Asset Vision’s strategy of building long-term customer relationships.
- The platform connects asset planning with everyday operational delivery.
- The extension option of up to five additional years, valued at $1,453,047 excluding GST, would extend the contract beyond the initial term if the council exercises it, subject to approved budgets and satisfactory performance.
The announcement does not provide revenue guidance, cash position or share price information. The only dates disclosed are the commencement of the contract on 19 October 2026 and the council’s option to extend by up to five additional years.
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