19 July 2022
1Spatial, (AIM: SPA) has announced the signing of a significant five-year contract with a major European aerospace company following a competitive tender. The contract is for software licenses, implementation and subsequent annual recurring software and managed services. The total value of the contract over the five years is approximately €3m including around €0.7m implementation services and around €0.6m per annum (for four years commencing in FY 2024) of software licence and managed services revenue, commencing after implementation.
1Spatial is proud to be supporting this major international organisation in establishing its new telecom asset management software system covering four countries. The offered solution is based on the solutions 1Telecomms and 1Integrate, the 1Spatial flagship software solution. This is a significant contract win, not only because it is a major commercial client in Europe, including significant recurring revenue, but also our first major win for our 1Telecomms solution, which was launched in 2021, supporting our global growth strategy.
1Telecomms is a telecommunications asset management software system for the effective management of fibre optic and telecommunications networks. Featuring cartographic and schematic views, the technology supports the construction, deployment, operation, and maintenance of telecommunications networks and is built on the Esri GIS platform.
The new solution is destined to replace the current system, which has reached end of life, by offering the organisation extended capacities on a modern platform. It will enable them to manage their telecom assets in an integrated and harmonised manner globally.
Commenting on the contract award, 1Spatial CEO, Claire Milverton, said: "We are delighted to have won this contract from a major commercial organisation, supporting our Land and Expand strategy in Europe. This award validates the world-leading nature of our innovative technology, and we expect many further opportunities from our recently launched 1Telecomms solution combined with our patented 1Integrate offering."
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 / Andrew Fabian | |
| Liberum (Nomad and Broker) | 020 3100 2000 |
| Neil Patel / Cameron Duncan / Miquela Bezuidenhoudt | |
| Alma PR | 020 3405 0205 |
| Caroline Forde / Hannah Campbell | 1spatial@almapr.co.uk |