Ann: Nearmap announces major contract win in Australia-NEA.AX, page-14

Key points:

'It has signed a significant new one year subscription contract with an existing customer...'

'This new contract has an annual value of $1.1 million and is the second in excess of $1 million executed by Nearmap in FY16'

John Biviano, 'We are pleased to broaden and enhance our partnership with this important customer'


IMO, this is very important news, 2nd customer with an annual subscription over $1million demonstrates that their product has immense value to many business models and hence will pay the big bucks to use it. It doesn't say how much they've upped their subscription package by but you would assume it's a quite a significant jump.

Great news overall and this further reinforces that Nearmap are the market leaders in Aus and show absolutely no signs of slowing down or being thrown off my new market entrants with weird company names.