1Spatial PLC on Wednesday announced the renewal and expansion of a €1.5 million contract with a French national public authority.
The Cambridge, England-based data management software company said the contract, which spans four years, will provide annual recurring revenue of €380,000, representing a 10% uplift.
The contract involves 1Spatial providing the software platform for the national public authority to automate the integration and validation of millions of location data points every day across 3,500 different agencies across France.
1Spatial said it remained confident about European revenue for the year due to end on January 31, 2025.
Chief Executive Officer 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. We look forward to sharing further details of our progress with our shareholders when we release our interim results in October.’
Shares in 1Spatial were up 0.2% at 59.13 pence each in London on Wednesday morning.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
