New customer multi-year contract
30 January 2024
1Spatial plc
("1Spatial", the "Group" or the "Company")
New customer multi-year contract with European utility company
1Spatial to support a major utility based in Belgium to produce, and ensure the quality of, its geospatial data
1Spatial, (AIM: SPA), a global leader in Location Master Data Management (LMDM) software and solutions, has secured a three-year contract with a leading Distribution System Operator for electricity and gas networks in Belgium, following a competitive tender.
The contract is for geospatial data processing services and will see 1Spatial's 1Integrate product used for its unique data quality control and data validation capabilities, alongside 1Spatial's geospatial data production services. 1Spatial will assist the utility company in the production of a Digital Twin of its distribution network and enhance the quality and accuracy of its geospatial data. The project will enable the utility company to carry out a wide range of activities, including distribution network management, connection works and repairs, in a more efficient, cost-effective manner, ensuring the safety of its team and customers.
The total contract value to 1Spatial is €9.0 million of which 1Spatial will deliver €4.1 million including €0.3 million in term software licence revenue. 1Spatial will utilise partners to deliver the balance of the work, with a total value €4.9 million, over the three-year duration of the contract.
Commenting on the contract award, 1Spatial CEO, Claire Milverton, said: "This is a great competitive win for 1Spatial, further expanding our presence in Europe. Our new customer will use our unique technology and solutions to produce and improve the quality and accuracy of its geospatial data. This contract win adds to our growing ARR revenues and demonstrates the credentials of our enterprise offering and with the potential for expansion, we are excited to be working with this leading-edge operator."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.
For further information, please contact:
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1Spatial plc |
01223 420 414 |
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Claire Milverton / Stuart Ritchie
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Liberum (Nomad and Broker) |
020 3100 2000 |
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Max Jones / Edward Mansfield / Anake Singh
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Alma Strategic Communications |
020 3405 0205 |
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Caroline Forde / Hannah Campbell |
1spatial@almastrategic.com |
About 1Spatial plc
1Spatial plc is a global leader in providing Location Master Data Management (LMDM) software, solutions and business applications, primarily to the Government, Utilities and Transport sectors via the 1Spatial platform. Our solutions ensure data governance, facilitating the efficient, effective and sustainable operation of customers around the world. Our global clients include national mapping and land management agencies, utility companies, transportation organisations, government and defence departments.
Today, when using and sharing trusted data provides significant opportunities for businesses and governments to deliver against important sustainability and Net Zero goals, our vision is clear - to make the world safer, smarter and more sustainable by unlocking the value in data, enabling better decisions and greater insights.
The 1Spatial platform is a comprehensive set of data and system agnostic LMDM software components which helps ensure master data is compliant, current, complete, consistent, and coordinated - and that customers can be confident it will remain that way as it evolves. It allows them to master their data on any device, anywhere, anytime and can be deployed as SaaS in the cloud, on-premise, or as a hybrid of both.
Our domain expertise and data agnostic approach allows us to be an integral and important part of the Geospatial Ecosystem, supporting the wider digital economy. We partner with major technology consultancies and GIS providers such as ESRI and bring together our people, innovative solutions, industry knowledge and experience from our extensive customer base to deliver world class solutions.
1Spatial plc is AIM-listed, headquartered in Cambridge, UK, with operations in the UK, Ireland, USA, France, Belgium, Tunisia, and Australia.
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