21st Oct 2024 12:33
(Alliance News) - 1Spatial PLC on Monday said it has signed a year-long contract with Surrey County Council for its 1Streetworks software-as-a-service solution.
1Spatial is a Cambridge, England-based data management software company. 1Streetworks automates the production of traffic management plans, diversion routing, and asset inventory lists.
The county intends to use the platform as a centralised hub to manage the execution of street works on traffic sensitive roads, 1Spatial said, "improving efficiency, speed and safety of street works carried out".
The contract is worth GBP1 million.
"We are delighted to have secured this significant contract with Surrey County Council. This achievement reinforces the value of our proposition, marks a significant milestone in the growth of this critical business segment and provides further evidence of the successful execution of our strategy," said Chief Executive Officer Claire Milverton.
"Adoption by a government body will significantly elevate the profile of 1Streetworks SaaS among our target customer base and highlight the associated benefits to industry participants. Combined with the recent strategic additions to our 1Streetworks team, 1Spatial is well placed to capitalise on the substantial GBP400 million addressable market opportunity."
Shares in 1Spatial were trading 3.4% higher at 69.25 pence each in London on Monday afternoon.
By Holly Beveridge, Alliance News senior reporter
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