mPhase Technologies, Inc. announced that it has amended and renewed its primary technology contract with its channel partner for an additional three-year term. This important contract is a follow-on to the original three-year license agreement dated June 30, 2019. The agreement currently generates about $8.4 million in quarterly revenue and more than $33 million in annual revenue.

Under this renewed license, the channel partner gains the right to utilize the mPhase proprietary cloud-based software as part of its platform of global business solutions. The mPhase Intelligent AI platform is a powerful system that includes real time tracking of skill development, making it highly attractive for industry-specific business training applications. In addition to a monthly software subscription, mPhase is also providing training, maintenance, updates and other support functions for a monthly fee.