Friday, February 5, 2016

Intermap Inks Details On $175M Contract

Denver-based geospatial information provider Intermap said this morning that it has entered into a definitive agreement covering a $175M contract that it has to create, operate, and maintain a national spatial data infrastructure for an un-named, sovereign country. Intermap had announced details on the contract in 2015. The company said the initial, three year implementation of the contract is valued at $143M, with monthly milestone payments, and $12M paid upon financial close. The company also said there will be operation and maintenance valued at $32M for an additional nine year on the contract.