Here’s why the EROAD (ASX:ERD) share price is jumping 8% today

The EROAD Ltd (ASX: ERD) share price is on the move on Friday following the release of an announcement.

At the time of writing, the transportation technology services company’s shares are up 8% to $4.75.

Why is the EROAD share price charging higher?

Investors have been buying the company’s shares after it announced the signing of its largest Australian enterprise customer, Ventia.

Ventia is one of the largest essential services providers in the Australia and New Zealand region. It specialises in the long-term operation, maintenance, and management of critical public and private assets and infrastructure for corporate and government clients.

According to the release, EROAD and Ventia have entered into a five-year agreement for a…