1Spatial wins 'major multi-year contract' with French authority

18th Sep 2024 11:35

(Sharecast News) - Software and solutions business 1Spatial has secured a major multi-year contract renewal with a National Public Authority in France, valued at €1.5m over four years.

1Spatial said on Wednesday that the contract will provide annual recurring revenues of €380,000, representing a 10% uplift, and will see it provide the software platform for the NPA to automate the integration and validation of millions of location data points every day.

The AIM-listed group added that the contract, alongside the successful ongoing implementation of other multi-year contracts in France, Belgium and Germany, underpins its confidence in European revenues for the year ending 31 January 2025 and beyond.

Chief executive Claire Milverton said: " We are pleased to report this significant multi-year contract renewal, underpinning European revenue visibility for the current year and beyond. With our patented location master data management technology powering some of the world's most complex national data sets, we see considerable opportunity to support the digital transformation agenda worldwide."

As of 1135

BST, 1Spatial shares were up 1.19% at 59.70p.

Reporting by Iain Gilbert at Sharecast.com