Intermap Technologies (OTCMKTS:ITMSF) Stock In Focus After Key Update
Global 3D geospatial products and intelligence solutions leader Intermap Technologies (OTCMKTS:ITMSF) could come on to the radars of investors this morning owing to the announcement it made yesterday. The company announced yesterday that it had managed to bag a two year renewal of a data subscription contract with the State of California. Additionally, the value of the subscription size had also been bumped up by 50%.
Trading Data
On Tuesday, ITMSF stock ended flat at $0.4235 with 4.52K shares, compared to its average volume 17.55K shares. The stock moved within a range of $0.4235 – 0.4235 after opening trade at $0.4242.
Intermap Announces 50% Increase in Subscription Renewal with the State of California
It goes without saying that it was a major new development for the company and one that could come as a major long term boost. The company NEXTMap product offers accurate and current elevation data, which helps government agencies, industry professionals and researchers to make well thought out decisions in a number of sectors.
Some of those sectors include emergency management, urban planning, natural resource exploration and infrastructure development.
The data subscription model offered by Intermap Technologies makes it possible for the state to use strategic data infrastructure at an affordable rate at any time it wants to use it. It was back in 2020 that the State of California had first subscribed to the service for the purpose of cutting down on data procurement costs across its departments and to ensure that the available data was current.
