1Spatial Holdings Company Research (SPA)

1Spatial has announced that it has won a new contract to deliver data transformation and integration (DT&I) solutions for the National Underground Asset Register (NUAR). The contract value of £4.2m over an initial two years with £1.5m licence revenue has improved economics versus the company’s previous engagement (signed in September 21) and 1Spatial is promoted to prime contractor for the DT&I element, whereas previously it was subcontractor to Atkins. We are not changing our estimates, but believe that this deal provides further evidence that 1Spatial now well embedded as a key supplier supporting the digitisation of the UK’s infrastructure.