Intermap Technologies (OTCMKTS:ITMSF) In Focus After Subscription Renewal with Autonomous Aviation Customer
Intermap Technologies (OTCMKTS:ITMSF) is a worldwide leader in intelligence solutions and 3D geospatial technologies. Yesterday the company was in the news after it announced that one of its aircraft clients had decided to renew the subscription for NEXTView in light of the expansion of its operations at the early stages. The product, named Lido SurfaceDataNEXTView, had been developed by Intermap in collaboration with Lufthansa Systems and had also been certified by European Union Aviation Safety Agency (EASA) for deployment in commercial avionics.
Trading Data
On Monday, ITMSF stock decreased 2.42% to $0.4500 with more than 200 shares, compared to its average volume of 29.84K shares. The stock moved within a range of $0.4500 – 0.4534 after opening trade at $0.4534.
Intermap Announces Subscription Renewal with Autonomous Aviation Customer
The product is best known for providing accurate elevation data which help in the landing of autonomous aircrafts. The solution also offers Terrain Avoidance and Warning Systems (TAWS) and Synthetic Vision Systems (SVS) for traditional aircrafts.
The autonomous aircraft industry is going to continue to grow and in such a situation there would be greater demand for worldwide data availability and accuracy. The demand is expected to be heavy as it would be necessary to make autonomous flights much more efficient and safe.
In such a situation, companies like Intermap and its solutions may emerge as major players in a fast growing market. In light of the latest announcement, it could be interesting to see if the stock can actually make a move today.
