1Spatial Plc Partnership Contract Win for UK Government project (9696M)
September 27 2021 - 1:00AM
UK Regulatory
TIDMSPA
RNS Number : 9696M
1Spatial Plc
27 September 2021
27 September 2021
1Spatial plc
("1Spatial", the "Group" or the "Company")
Partnership contract win for UK Government project
1Spatial wins landmark contract following competitive tender
1Spatial, (AIM: SPA), a global leader in Location Master Data
Management (LMDM) software and solutions, is delighted to announce
the award of a major new multi-year contract following a
competitive tender, in partnership with a consortium. The contract
will deliver a significant multi-year digital transformation
programme for a department of the UK Government .
The 5 year contract is expected to have a total value to
1Spatial of GBP8.0 million, with a significant weighting towards
recurring revenue. The contract comprises recurring software
licences (around GBP1.2 million ARR value, expected to commence in
early 2023) and software configuration and integration services
worth GBP8.0 million in aggregate over five years, of which GBP2.1m
is expected to be delivered over the next two financial years. Both
the software configuration and integration services and the first
three years of software licences within the contract are
contractually committed, delivering approximately GBP5.6m of
revenue to the Company. As a result of this contract award, the
Company anticipates that revenue and EBITDA for FY23 (being the
year ending 31 January 2023) will be slightly ahead of its
expectations, whilst also driving growth in ARR over the term of
the contract.
The contract win underlines the quality of 1Spatial's
world-class technology and geospatial expertise, and the ability of
the business to scale through the sale of repeatable business
applications and software solutions.
Claire Milverton, CEO of 1Spatial, commented, "We are thrilled
to have secured this second landmark contract for 1Spatial so
recently after reporting our previous landmark win. We won this
contract alongside our partners, against intense competition and is
further proof of our world-leading geospatial capabilities and
software platform. The structure and scale of this contract is
transformational for our business from a recurring revenue
perspective and aligns completely with our growth strategy to focus
on repeatable software solutions. The market for high quality
geospatial data is growing at a significant rate globally through
initiatives such as 'Building Back Better and Greener' and at
1Spatial we are ready to capitalise on this significant growing
opportunity ."
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 / Ed Phillips
/ Miquela Bezuidenhoudt
Alma PR 020 3405 0205
Caroline Forde / Justine James / Molly Gretton 1spatial@almapr.co.uk
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
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