Intermap Technologies Corporation (TSX: IMP) (ITMSF: BB) has entered into definitive agreements, pertaining to a letter of award for the creation, operation and maintenance of a national spatial data infrastructure (“SDI”) program.
Under the terms of the contract, the statement of work for the Project´s initial three-year implementation phase is valued at USD143 million, earned on a monthly milestone payment basis, with a USD12 million down payment due upon financial close.
The company will also provide an operation and maintenance module valued at USD32 million for an additional nine-year period.
The contract is subject to customary closing conditions and the finalization of the project´s financing facility, with product and service delivery scheduled to commence during the second quarter of this year.
The twelve-year SDI program will be administered within a public-private-partnership framework, under the build-operate-transfer model, with the company serving as the prime contractor, on a turnkey basis.
Headquartered in Denver, Colorado, Intermap is a leading provider of geospatial solutions on demand with its secure, cloud-based Orion PlatformÂ®.