LONDON (ShareCast) - (Sharecast News) - Location software business 1Spatial said on Tuesday that its 1Streetworks division had secured a third major contract.
Following significant wins announced last year, 1Spatial has now secured a new 12-month contract for 1Streetworks with Kent County Council valued at £500,000.

1Spatial said 1Streetworks' cloud-based software-as-a-service solution was the first in the market to fully automate the production of traffic management plans, diversion routing and asset inventory lists. It also enables the plans and their location to be shared with other users on the platform and can be incorporated into existing operational processes with minimal disruption.

The AIM-listed group noted that Kent experiences "numerous road closures" each year, severely disrupting the daily lives of its residents, and said that by using 1Streetworks to review road closure requests and adjust plans to use less disruptive traffic management, it estimates that it can achieve "at least a 40% reduction" in road closures.

Chief executive Claire Milverton said: "We are delighted to secure our third material contract for 1Streetworks. We are seeing growing appreciation of the product and its value to customers. Adoption by a second council will help accelerate growing market awareness of the benefits it brings. The board will continue to focus on executing on the substantial addressable market opportunity."

As of 1000 BST, 1Spatial shares were up 1.87% at 54.50p.







Reporting by Iain Gilbert at Sharecast.com

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