Last checked at 8 Dec 2015 07:00
8 December 2015
1Spatial plc (AIM: SPA)
("1Spatial" or the "Group")
Strategic US Contract Win
The Board of directors of 1Spatial (the "Board"), the global spatial software, service and data quality company which manages the world's largest spatial data, is pleased to announce that it has entered into a contract with a major US Commercial Data Provider (the "Data Provider") to provide its 1Integrate solution to a US Federal Government Agency. The total value of the multi-year contract is US$1.3million.
The solution will provide the client with the ability to integrate, automate and combine data provided by the Data Provider with their own proprietary data in real time. Furthermore, through the provision of change only updates, the client will be able to manage real world changes across the whole of their enterprise systems as they occur.
This contract win is an endorsement of 1Spatial's strategy to productise its IPR and transform the business model into a repeatable product sale company. The contract, being a key win in the strategically important US market, also recognises the value in the 1Integrate solution and validates progress on the Group's strategy building key strategic partnerships with major vendors.
Approximately US$0.3m will be recognised in the financial year to January 2016 with the remaining US$1m being recognised over the following four financial years.
Marcus Hanke, CEO of 1Spatial plc, commented:
"We are delighted with this strategic contract win and look forward with great optimism at future revenues from this market segment and building a strong working relationship with this US Commercial Data Provider. This win substantiates the strength of our technology and expertise in the market, while building on our strategic focus around repeatable product sales and the value of strategic partnerships. As previously stated, the US market is an investment region for us and through aligning with our partners, we are confident of converting our growing pipeline in the US market."
For further information, please contact:
1Spatial plc | 0203 427 5004 |
Marcus Hanke / Claire Milverton |
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FTI Consulting | 020 3727 1000 |
Dwight Burden/Alex Le May/ Karen Tang |
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N+1 Singer | 020 7496 3000 |
Shaun Dobson / Lauren Kettle |
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About 1Spatial
1Spatial manages the world's largest spatial big data and works with users and creators of the largest geospatial databases, helping them collect, store, manage and interpret location-specific information,
1Spatial's clients are global and include national mapping and cadastral agencies, utility and telecommunications companies, and government departments including emergency services, defence and census bureaus.
A leader in the field, 1Spatial has over forty years' experience and a record of continual innovation and development. Today, with an ever increasing reliance on accurate spatial and location-critical data, which enables control, consistency and compliance across an enterprise environment the demand for our expertise and solutions is growing rapidly.
1Spatial operates globally, and has a portfolio of customers both in the Commercial and Government sector, with headquarters in Cambridge, UK and offices in France, Belgium, Ireland and Australia. To find our more, visit www.1spatial.com