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27 September, 2021 - 07:35 By Tony Quested

1Spatial clinches £8m Government deal

Cambridge geospatial tech specialist 1Spatial has won a UK government deal expected to roll up to £8 million over five years.

The contract will deliver a significant multi-year digital transformation programme for an unnamed department of the government.

This is the second largest contract announced by the group within a few weeks.

The contract comprises recurring software licences (around £1.2 m ARR value, expected to commence in early 2023) and software configuration and integration services worth £8m in aggregate over five years. Some £2.1m of this 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 £5.6m of revenue to 1Spatial. 

As a result of this contract award, the company anticipates that revenue and EBITDA for FY23 (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.

Claire Milverton, CEO of 1Spatial, said: “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 it 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.”

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