Last checked at 20 Feb 2019 07:00
20 February 2019
1Spatial plc (AIM: SPA)
("1Spatial", the "Company" or the "Group")
1Spatial Awarded Significant Government Contract
1Spatial, the global geospatial software and solutions company, is pleased to announce that it has been awarded a contract to provide its software and services to No1 Aeronautical Information Documents Unit ("No1 AIDU"). This contract, which has a value of over £1 million, builds on the existing services which 1Spatial currently provides for No1 AIDU.
1Spatial currently maintains No1 AIDU's Aeronautical Production System ("APS"), which provides the capability to capture, maintain and publish aeronautical data through a highly automated and temporal system. The information published is critical for mission and flight-planning across the world.
Under the terms of this new contract 1Spatial will continue to maintain and support No1 AIDU's APS system, as well as enhance the APS system through providing services to adapt the system to the changes in both the supplied data and evolving customer needs.
The total contracted amount includes £0.5m of software related recurring revenue, and up to £0.2m of services. Most of this revenue is expected to be recognised in the year ended 31 January 2020. The terms of this contract provide for a further option year, which includes the potential for an additional £0.4m of recurring software revenue and up to £0.1m of services.
Claire Milverton, CEO 1Spatial Commented:
"No1 AIDU is at the forefront of air cartography world-wide and I am delighted to grow our long-standing relationship, which is testament to our land and expand strategy of placing our teams and technology at the heart of our client's infrastructure to support their needs in providing this vital data globally.
This award demonstrates continued demand for our unique patented technology coupled with our highly skilled teams, and highlights success in our work with government agencies.
The contract maintains and builds recurring revenue for 1Spatial, and provides incremental service revenues, as we work No1 AIDU to help it achieve their ambitions."
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For further information, please contact:
1Spatial plc 01223 420 414
Andrew Roberts / Claire Milverton
FTI Consulting LLP 020 3727 1000
Dwight Burden / Alex Le May
N+1 Singer 020 7496 3000
Shaun Dobson / Lauren Kettle (Corporate Finance)
Tom Salvesen (Corporate Broking)
LEI Code: 213800VG7OZYQES6PN67
About 1Spatial
1Spatial is a software solutions provider and global leader in managing geospatial data. We work with our clients to deliver real value by making data current, complete and consistent through the use of automated processes - ensuring that decisions are always based on the highest quality information available.
Our unique, rules-based approach delivers enterprise-scale, cross-platform, automation to all stages of the data lifecycle. It builds confidence in the data while reducing the time and cost of stewardship. Our global clients include national mapping and land management agencies, utilities, transportation organisations, government departments, emergency services, defence and census bureaus.
A leader in our field, we have a wealth of experience and a record of continual innovation and development. We partner with some of the leading technology vendors including, Esri and Oracle.
For more information visit www.1spatial.com
About AIDU
No1 AIDU has a wide remit to provide all aeronautical information (AI) products and services to UK Defence through production, partnering or acquisition to support Defence objectives. Supporting all Defence capabilities including Mission Planning, Air Traffic Control, cockpit mapping and Flight Management Systems data. No1 AIDU provides essential services to the MOD as the data it captures, maintains and publishes are both operationally and safety critical.