REG - 1Spatial Plc - New customer multi-year contract

1SpatialAnnouncement

30/01/2024 07:15

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RNS Number : 2875B  1Spatial Plc  30 January 2024

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:

 

 

 1Spatial plc                                 01223 420 414
 Claire Milverton / Stuart Ritchie

 Liberum (Nomad and Broker)                   020 3100 2000
 Max Jones / Edward Mansfield / Anake Singh

 Alma Strategic Communications                020 3405 0205
 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.

 

www.1spatial.com (http://www.1spatial.com)

 

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