(Sharecast News) - Mobile location data and intelligence company Location Sciences Group announced the signing of a 24-month contract with out-of-home planning and buying agency Talon Outdoor on Wednesday.
The AIM-traded firm said it would provide Talon's clients with insight into the impact of their out-of-home (OOH) advertising campaigns.
Talon would both license Location Sciences' proprietary location data, as well as work in partnership with the Location Sciences data science and engineering teams, to create improved frameworks and accuracy for planning and attribution.
Location Sciences said Talon's clients, amongst many others, included McDonald's, Sony Pictures, VW Group and Google.
The board said the contract was further demonstration of the inherent value of the company's data lake, and was the second long-term agreement that Location Sciences signed in October.
It added that it was further proof of the success of the firm's evolving business model.
At the end of September, Location Sciences reached a monthly revenue run rate of more than £70,000, with 69% of that being generated from either recurring or repeat revenue streams.
"I am delighted to announce this contract with Talon, a leading player within the OOH marketing space," said Location Sciences chief executive officer Mark Slade.
"Talon utilises the latest technologies in its cutting-edge OOH communications and its choice of Location Sciences pays testament to the quality of our offering."
Slade said there was "too much smoke and mirrors" in location data, with vast differences in quality and accuracy.
"We are pleased that Talon, like many others, has recognised the accuracy and scale of our data.
"We look forward to working with them to bring out the value of location data in OOH planning.
"This long-term partnership shows this data will become more and more critical to brands investing in this space."