Expanding relationship with Generali Group by
adding Romania
Growing in the Czech real estate
sector
Strong demand for data and analytics in
European markets
DENVER, Feb. 4, 2022
/CNW/ - Intermap Technologies (TSX: IMP) (OTCQX: ITMSF) ("Intermap"
or the "Company"), a global leader in geospatial content
development and intelligence solutions, today announced two
subscriptions to its European cloud-based risk solution. The demand
for the Company's Aquarius solution is increasing in the
fast-growing insurance and real estate industries.
Intermap is pleased to expand its relationship with Generali
Group by adding Romania to the
existing Aquarius RMA (Aquarius) subscription. As a cloud-based
flood risk solution, Aquarius enables consistent underwriting for
an entire portfolio life cycle for any location. Romania represents Aquarius' fourth CEE
country, where Generali is ranked among the top three most trusted
insurance brands. This new subscription enables Generali to grow
its premium with customized and precise flood hazard maps and
analytics.
The Company also reported that MyNEMO renewed its subscription
to Intermap's flood risk web services to support real estate
transactions in the Czech
Republic. In addition, MyNEMO is preparing to offer these
services to other CEE countries.
Intermap continues to expand its European software subscription
services beyond the insurance market by adding new functionality to
its comprehensive solution suite. The Company's European software
subscription revenue has increased by 2.5 times since introducing
the cloud-based version of Aquarius in 2020 and continues to grow
as these expanded solutions are delivered to new and existing
clients. The addition of Romania
increases the Aquarius subscription monthly recurring revenue by
10%.
"Our strategy of penetrating deeper into our largest accounts by
helping them grow their business is working," said Patrick A. Blott, Intermap Chairman and CEO.
"We're enabling them to scale globally and save money by providing
actionable GEOINT in a turnkey, easy-to-use software and enterprise
data management solution. From a standing start in 2019, our
cloud-based subscriptions in CEE now account for 72% of CEE
revenue, which in turn has grown 19% year over year to become 19%
of Intermap's total commercial revenue."
To learn more about Intermap's European services, visit
www.intermap.com/european-solutions.
Intermap Reader Advisory
Certain information
provided in this news release constitutes forward-looking
statements. The words "anticipate", "expect", "project",
"estimate", "forecast", "will be", "will consider", "intends" and
similar expressions are intended to identify such forward-looking
statements. Although Intermap believes that these statements are
based on information and assumptions which are current, reasonable
and complete, these statements are necessarily subject to a variety
of known and unknown risks and uncertainties. Intermap's
forward-looking statements are subject to risks and uncertainties
pertaining to, among other things, cash available to fund
operations, availability of capital, revenue fluctuations, nature
of government contracts, economic conditions, loss of key
customers, retention and availability of executive talent,
competing technologies, common share price volatility, loss of
proprietary information, software functionality, internet and
system infrastructure functionality, information technology
security, breakdown of strategic alliances, and international and
political considerations, as well as those risks and uncertainties
discussed Intermap's Annual Information Form and other securities
filings. While the Company makes these forward-looking statements
in good faith, should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary significantly from those expected.
Accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits that the Company will
derive therefrom. All subsequent forward-looking statements,
whether written or oral, attributable to Intermap or persons acting
on its behalf are expressly qualified in their entirety by these
cautionary statements. The forward-looking statements contained in
this news release are made as at the date of this news release and
the Company does not undertake any obligation to update publicly or
to revise any of the forward-looking statements made herein,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities law.
About Intermap Technologies
Founded in 1997 and
headquartered in Denver, Colorado,
Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial
intelligence solutions. The Company's proprietary 3D NEXTMap®
elevation datasets and value-added geospatial collection,
processing, analytics, fusion and orthorectification software and
solutions are utilized across a range of industries that rely on
accurate, high-resolution elevation data. Intermap helps
governments build authoritative geospatial datasets and provides
solutions for base mapping, transportation, environmental
monitoring, topographic mapping, disaster mitigation, smart city
integration, public safety and defense. The Company's commercial
applications include aviation and UAV flight planning, flood and
wildfire insurance, environmental and renewable energy planning,
telecommunications, engineering, critical infrastructure
monitoring, hydrology, land management, oil and gas and
transportation. For more information, please visit
www.intermap.com.
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SOURCE Intermap Technologies Corporation