Intermap Enters Strategic Agreement with TATA Communications, Enables Major Energy Infrastructure Program in the Middle East, Expands Commercial Markets to India and Saudi Arabia
Establishes opportunity to support 80% of the world's mobile subscribers in over 200 countries
Commercial markets rebounding quickly with growing demand around the world for Intermap's elevation data-as-a-service
DENVER, May 26, 2021 /CNW/ - Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) ("Intermap" or the "Company"), a global leader in geospatial intelligence solutions, today announced further expansion into Asian infrastructure markets, with its first commercial client in India, as well as continued work in the Middle East for a new public infrastructure client in Saudi Arabia.
Intermap has entered into a strategic agreement with TATA Communications, a global telecom leader connecting 80% of the world's mobile subscribers in over 200 countries. Intermap will initially support TATA's expansion of its 5G wireless telecommunications network in select Indian cities.
Intermap has also entered into an agreement with a multinational engineering company conducting site analysis and project feasibility in the Middle East. This contract, covering several thousand square kilometers in Saudi Arabia, enables a construction project for energy-related infrastructure including power transmission.
Intermap's elevation data-as-a-service (EDaaS) solution for telecom network and real estate site planning increases the efficiency and reduces the cost of planning operations for companies that operate at country-wide or even global scale. EDaaS delivers high-resolution, 3D, multi-sourced datasets through APIs and other web services that are integrated with existing software and workflows and provide fast and accurate answers for locations anywhere in the world, available immediately, and with extremely high global precision.
Leveraging the Company's progress and lessons learned in the United States, these contracts mark Intermap's rapid entry into broader commercial markets in Asia and the Middle East. Specifically, the Indian commercial geospatial market is among the largest, yet most underserved markets in the world. Beyond telecom, Intermap's high-resolution 3D datasets for India can serve insurance and aviation applications.
In an environment where Intermap's U.S. government prime contractor partners have retrenched due to the pandemic, delaying government revenue, Intermap's commercial business is proving resilient, now with over 80 EDaaS customers, almost half of which have signed subscriptions. Year-to-date, approximately 57% of Intermap's commercial sales have been subscription-based.
"Intermap is a global leader in elevation data and analytics, and these contracts demonstrate how we are now serving multinational commercial clients in more plces around the world," said Patrick A. Blott, Intermap's Chairman and CEO. "Foreign governments have greater flexibility to acquire commercial products and software directly from Intermap and we have begun to see these sales recover this quarter. It is our expectation that U.S. prime contractor bottlenecks are improving as vaccine levels accelerate and the economy re-opens, and that recovery in our U.S. government sales will follow before the end of the year. In the meantime, India presents a unique opportunity for Intermap to provide TATA Communications with bespoke solutions available globally on demand. These turnkey and customizable products make the world's best 3D geospatial data accessible to non-expert users. They are scalable and sufficiently flexible to help address TATA's vast global ecosystem of geospatial requirements."
Learn more about TATA Communications here.
Learn more about Intermap's telecom products and services here.
Intermap Reader Advisory
About Intermap Technologies
View original content:http://www.prnewswire.com/news-releases/intermap-enters-strategic-agreement-with-tata-communications-enables-major-energy-infrastructure-program-in-the-middle-east-expands-commercial-markets-to-india-and-saudi-arabia-301300442.html
SOURCE Intermap Technologies Corporation