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Share Name Share Symbol Market Type Share ISIN Share Description
1spatial Plc LSE:SPA London Ordinary Share GB00BFZ45C84 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.50 5.21% 50.50 49.00 52.00 50.50 48.00 48.00 178,073 14:43:34
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 24.6 -1.4 -1.0 - 56

1spatial Share Discussion Threads

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DateSubjectAuthorDiscuss
12/7/2013
19:50
Thanks mmelody for the above post. It was all before my time but found it interesting to dig deeper and put the Tadpole story together for context. This link / story actually reenforces the point of value and capability of SPA technology and IP, and why SPA has a very real opportunity to drive a strong presence in the growing spatial big data market. Some can say its all hype, but this a fact based reality - any fool can research the size of the market and it growing. So long as the SPA teams execute the growth strategy the addressable market is huge and growing. As investors we are in a very good place as we move into the growth cycle. The Tadpole story proves beyond doubt why SPA is a core technology company worth tracking. It's illustrative of a small company supported by a much much larger company (ESRI and SPA competitor) that still despite a large company backing and resources couldn't deliver on the OS core requirements and support the aspirations of the worlds most advanced mapping agency. After 3 years of trying the contracts were cancelled. They couldn't deliver on the big data volumes and multi user demands for managing the updates, secure the required data quality and it blew up. SPA took over the solution and have delivered using their technology and IP - they delivered the engine that now powers OS data. OS can now continue to expand and invest further in SPA technology with new developments like 1edit and 1plan, and the ability to manage and control the huge spatial data volumes that are essential to their business and business model as they expand round the globe, can be supported by SPA. The below links tell the story for anybody interested. 5 Jul 2002 http://prod.ordnancesurvey.co.uk/about/news/2002/toad.html Ordnance Survey is to develop a new generation of field editing and data management systems to further enhance its most detailed mapping of Britain and speed its updating. The national mapping agency has signed a Memorandum of Understanding with Tadpole-Cartesia and ESRI to develop the software and build the new system, which it plans to bring in to use by late 2003. Ordnance Survey's 400-plus nationwide surveyors will use the system to record and seamlessly update geospatial data, such as new buildings, streets and pathways, from the field to OS MasterMap, the nation's official and most detailed digital map database and on-line delivery service. Currently, field staff use pen computers to edit fixed tiles of existing mapping data which they extract from the large-scales database. While they are doing this, access to the mapping data has to be barred to other staff who may also need to use the same data for other projects. In addition, data movements between field users and the main database in Southampton involve very large files, as all the information on each tile has to be transferred to and from the field. The new system, named the Field Object Editor (FOE), will maintain mapping that is seamless, and all access to the data will be controlled by a sophisticated transaction management system. This will not only avoid editing complications encountered at the edge of fixed map tiles, but will also allow the existing data to be accessed simultaneously by multiple users, such as other field survey staff or those based at Ordnance Survey's head office. From inception, the FOE has been designed to take advantage of the development of remote communication technologies. As a result, the speed of updating will be quicker, as it will be possible for specific updates to the map to be returned to the database at any time. Furthermore, because of database enhancements at Southampton and inherent quality assurance systems designed into FOE, information collected once in the field will be available immediately to enhance a host of different products without the need for additional survey work or verification. OS MasterMap is the definitive digital face of Britain, showing detail as fine as the shapes of individual houses and their precise location. It is the most accessible and intelligent geospatial data ever produced of Britain, as more than 400 million objects in the data have each been allocated a 16-digit topographic identifier (TOID) to allow the easy integration, exchange and analysis of third-party information. The validity and accuracy of Ordnance Survey's geospatial data is fundamental to the operations of thousands of professionals in both the public and private sectors. Following an international tendering process, Tadpole-Cartesia has been selected="selected" to be the prime contractor for the development and deployment of the FOE. It will be built around the Tadpole Group's ESRI ArcGIS-based field mapping and Endeavors Technology's Magi software products. Following the signing of the Memorandum of Understanding, a formal contract to initiate the work will now be drawn up. It is hoped that detailed work will be underway later this month (July 2002). Ed Parsons, Ordnance Survey's Chief Technology Officer, comments: "Ordnance Survey's next generation data capture system is possibly the most advanced and sophisticated large scale mapping project ever undertaken by any national mapping organisation anywhere in the world. Tadpole's ESRI-based mapping and Magi collaboration technologies will enable Ordnance Survey to deliver our planned programme of continuous improvement to OS MasterMap, ensuring that we keep ahead of the growing demand for more intelligent data with greater accuracy and accessibility." Under an international licence and partnership agreement with Ordnance Survey, Tadpole also intends to market the field editing and data management system to other mapping agencies around the world. See this release: it states clearly the aspiration and intention and at the end developing a seamless database instead of tiled - and a transition management system by Tadpole (ESRI) to allow multi users. This is what SPA can do (see prior posts) and these other competing technologies cannot do. http://boards.fool.co.uk/os-news-7855057.aspx?sort=threaded Technology: Mobile Computing by Karl Cushing Tuesday 15 April 2003 Ordnance Survey staff to get XP Tablet PCs The Ordnance Survey is to issue its field surveyors with 300 Tablet PCs running Microsoft Windows XP Tablet PC Edition to enable them to supply faster updates to OS Mastermap, its digital map database and online delivery service. "We are upgrading our Tablet PCs in anticipation of the demands we will be putting on the system," said project manager Simon Bartlett. "There is a definite return on investment in using Tablet PCs and digital technology. It also greatly enhances the quality and accuracy of the data." The Tablet PCs will use the Ordnance Survey's new data capture and field editing system, Field Object Editor, which is currently under development. Using the pen-based interface, surveyors will record geospatial data such as the position of buildings and streets and send updates to the central database from which OS Mastermap is produced. The Field Object Editor is based on ESRI software adapted by software firm Tadpole. The surveyors currently use Fujitsu Siemens FT 3400 and 3500 tablet PCs running Windows 98 and a geographic information system mapping application called Prism that pulls files from a central database for updating. Mapping IT The Ordnance Survey finished digitising its 233,000 map files in 1995 Electronic data accounts for 80% of its turnover It is developing a central database to hold its files in a "seamless" instead of a "tiled" format of individual files. The data will be controlled by a transaction management system from Tadpole to enable access by multiple users instead of a single user, as at present Three years on 14/11/2006 Tadpole is finished "but its work on database job management and data validation would cease. " this is one of the SPA core technologies capabilities and most critical Spatial Big Data propositions and challenges. http://www.guardian.co.uk/business/2006/nov/14/news.technology The Ordnance Survey has suspended much of the work being carried out by Tadpole Technology, a software partner that has for three years been working on a next-generation digital database for the Crown copyright mapping body. A spokesman for the Ordnance Survey said much, if not all, of Tadpole's work on the software programme known as Phoenix might be reviewed and could have to be redone. There had been a number of issues with "data integrity". Only a fraction of the mapping body's revenues are generated by selling paper maps. Commercial applications for digitised mapping dominate earnings. The Ordnance Survey, which pays an annual dividend to the Treasury and is overseen by the department for communities and local government, last year spent £24m on its investment programme, with Phoenix believed to have dominated this spending. Phoenix, which according to the Ordnance Survey annual report is a "seamless database management system", is scheduled to be ready for use by government and commercially by next financial year. A spokesman last night said the suspension, from December 11, would not delay delivery. Tadpole, which is Aim listed, warned investors in a statement yesterday that a strategic review being carried out by the Ordnance Survey could result in a "permanent suspension". The measure would "have severe adverse impact on the company's trading performance and funding requirements", it said. The Ordnance Survey said Tadpole would continue to have a role in data capturing for Phoenix but its work on database job management and data validation would cease. No one from the company was available for comment yesterday. A spokesman for the Ordnance Survey said it had the contractual right to suspend Tadpole's work at short notice and that no compensation would be paid.
mwaller
12/7/2013
07:59
frenchfry interesting you should say 'OS mapping per se is unlikely to ignite the finances of this tiddler'....I was in tadpole technology....I've reconsidered here too. hxxp://citywire.co.uk/money/tadpole-maps-out-with-os-win/a239653
mmelody
12/7/2013
06:50
I think I have a sort of internal Impressive-Words:Useful-Words ratio alarm for company announcements with a limit of 3:1 ;-) Tends to partly include bb postings as well. Funny really, there's companies at the other end of the scale - like SRT where recently they have surpassed themselves in providing great detail to investors about their markets and the values and possible timetables of each. They did previously fall foul of over-optimism, but they came clean, which is unusual and there was certainly always an intention to keep investors informed well. (Not a current buy recc. dyor etc. its had a good run recently.)
yump
11/7/2013
23:01
Having considered posts on this site since results were announced, on a balance have tended to side with the negative sentiments voiced most articulately by yump, I decided to sell out today. This appears to be a classic Aim type company teasing the speculative investor with expectations of untold riches in some distant future Utopia. Any connection with cloud and sky is purely ironic. OS mapping per se is unlikely to ignite the finances of this tiddler, no matter who joins the BOD. in the absence of greater transparency re future revenue streams, I see no compelling reason to stay on board. The share price drift tends to corroborate this feeling.
frenchfry
10/7/2013
22:01
Fgump This is exactly what I meant in earlier post about "as long as exec board don't get too greedy" CFO got 200k too. Having looked at the info published the 1spatial business looks fine but the Hanke additions are rubbish. The new acquisition seems a good fit and the whole thing could be a real flyer if the Avisen and storage fusion bits are canned and the execs pay themselves at levels in the real world for the business at this stage.
russell_hobbs
10/7/2013
14:23
Now this is really funny....have a guess what the CEO was paid last year? Answer £533,000 for which he delivered a £533,000 adjusted ebitda loss. What I'm wondering is if the loss goes higher does his pay go higher and if the company ever makes a profit will his pay go down. Is it a theory of inverse proportion!!
fgump
09/7/2013
09:34
Morning all..This posted on SPA web site today. Managing Spatial Big Data with Process Automation Location-Source Press User Rating: / 0 PoorBest Monday, 08 July 2013 08:50 . Facebook Twitter Google Geographic data underpins the growth of national economies. In the UK, Ordnance Survey mapping data is so vital that an independent report put its value to the British economy at more than £100 billion. National spatial data holdings are critical to decision making. Therefore these data holdings have to be accurate, up-to-date and managed to a guaranteed standard. Organisations (such as National Mapping and Cadastral Agencies, utilities companies, defence and government departments) that create and maintain these spatial big data holdings face a number of important challenges: 1). Firstly, these organistions must find a way to manage the size and complexity of these spatial big data holdings, very often with a high rate of real world change. So there is a need for more efficient and consistent data capture, maintenance and publication processes to model real world change and supply up-to-date information to consumers. 2). Secondly, these organisations often need be flexible and innovative in a rapidly changing marketplace. The ability to derive new data products and services in response to changing needs and requirements is key in order to compete and to also satisfy consumer demand for new data products. 3). In addition to the first two challenges, these organisations must also manage data quality and accuracy to guaranteed standards. Data must be of 'known' quality and be consistent. This is particularly challenging for national spatial big data holdings with billions of features and complex data models that represent the real-world. As a result of these challenges, many organisations are evolving from being suppliers of traditional mapping products generated from legacy cartographic databases, to being authoritative suppliers of rich, intelligent data and data services from real-word feature databases. In order to take this revolutionary step, organistions must make two deep changes. A change to business processes Many organisations have established multiple different data products each with their own individual workflows and systems to support them. Over time, management of this becomes increasingly difficult. For example at Ordnance Survey Great Britain, Malcolm Havercroft (Head of Operations for Data Collection & Management) said: "We got to a point where we had evolved numerous different production flowlines. Maintaining their inter-relationships was becoming difficult, inefficient and costly to manage." Read the full case study at: www.1spatial.com/customers So Ordnance Survey Great Britain have adapted business processes towards a 'survey once, store once, use many' philosophy. Other organisations are looking to do the same. This often leads to consolidating previous multiple production flowlines into a single data capture and maintenance process, from which all data products are created. At many organisations this has also led to the creation of a single, seamless, editable national database. From this central hub they can efficiently design and launch new and different data products. What we call a 'product-ready' database. A change to business systems In order to create and maintain these 'product-ready' databases, the right systems need to be in place to support each phase of the data supply chain. The very size of these national databases and the high rates of change demand that these systems must scale to meet critical usage and performance requirements. For Ordnance Survey Great Britain that means 4,000 survey jobs and over 35 million features being extracted per day. To meet these kinds of performance requirements automation plays a critical role. So, where it is possible and appropriate to do so, minimise the amount of human intervention in order to facilitate 'straight-through processing'. This concept was first used in financial sectors to automate trading and reduce the large number of complex and error-prone manual processes required to process trades, which often took days to complete. By utilising the same proven workflow and enterprise technologies, spatial transactions can also be completed using automated methods. For example here are a few processes in data capture and maintenance tasks that can benefit from automation: Data Extraction Using workflow and web services, data required by an editor (field survey or in-house editing) can be automatically identified and extracted from the database and sent to the editor. Jobs can be targeted and specific so that the right amount of information is made available, rather than generic where whole tiles of data are being transferred and much of the data is unnecessary. Data Editing Using automated data quality and topological rules, data edited in the field or in-house can be captured ensuring the data is accurate at time of capture, rather than validating after editing has been completed or not validating at all and reducing data quality. Data Submission Using workflow, web services and automatically-derived change-only-updates, only the data changes can be automatically sent back to the database, rather than all data having to be re-submitted causing unnecessary, time consuming processing. Data Quality and Transaction Management Using long transaction services, the 'product-ready' database can be protected by ensuring only certified data changes are committed to production data, rather than polluting the database with data of poor or unknown quality. Product Generation Using automated rules-based processing, data committed to the database can be used to automatically derive data products and change-only product supply to consumers, rather than waiting for manual processes to derive new or updated product sets. Conclusion Automation of these types of data capture and maintenance tasks means that spatial big data can be easily managed and maintained whilst accommodating high rates of change. It allows organisations to be agile and quickly derive new products and adapt to changing needs. It also provides a reliable way to manage data to a guaranteed standard and provide consumers with current and accurate data. By Chris Tagg, Product Manager, 1Spatial
412069
08/7/2013
14:34
Whenever I listen to these 'PR' style interviews, I hope to hear something concrete. So basically there is no answer to the market size that SPA are aiming at, apart from saying that its billions. I've heard that one rather a lot. But there were some important facts in there: (a) They are in the process of working out what markets to go for. (b) They are also in the process of developing (and have developed) new modules to add on the outside of the main engine, in order to sell it more widely. So the business is pretty close to a startup investment, with a basic tech. product having been developed and the sales push just starting. Presumably that's where a lot of the placing money is going to go. "Technology stack" mentioned about 10 times, along with a load of general market tech. speak. Everything except any expectations of what % of the market they might realistically be aiming at. I don't really want to hear a lot of verbal stuff about the market itself. So it looks like I for one misunderstood how ready the 1Spatial product was for marketing more widely. That's it from me, I'm now out, but keeping an eye on it. If there really is growth and profits to come, will have another look. I won't be counting growth that comes from buying other companies with shareholders money. If they start reporting that as growth , I'll stay out. If they start reporting significant organic growth, it will be much more interesting. Without the empire building placing, I would still be in.
yump
08/7/2013
14:05
Listen to 1Spatial - Final results for the year ended 31 January 2013 Click the link below hxxp://www.brrmedia.co.uk/event/112976/marcus-hanke-chief-executive-officer
sammy_smith
08/7/2013
14:05
Listen to 1Spatial - Final results for the year ended 31 January 2013 Click the link below hxxp://www.brrmedia.co.uk/event/112976/marcus-hanke-chief-executive-officer
sammy_smith
06/7/2013
17:49
I'm happy to hold:- 1Spatial - Full Year Results 3 Days ago (2013-07-03 17:14:55) by James Faulkner Spatial data business 1Spatial (SPA) has issued its results for the year to 31st January 2013. Revenue jumped 133% to £12.1 million but this reflected a full contribution from the 1Spatial acquisition versus just two months' contribution in FY12. Revenues at the Avisen division fell 39.4% to £2 million while Storage Fusion revenues were flat at £0.4 million. Although all trading businesses made positive adjusted EBITDA contributions, there was an overall adjusted EBITDA loss of £0.5 million once central costs of £2 million are included. There were also impairment charges of £2.5 million associated with the Avisen and Storage Fusion goodwill, which brought the overall loss for the year to £4.4 million. Highlights of the year include the restructuring and rebranding of the 1Spatial business; the launch of 1Edit, a spatial editing tool; and contract wins with the US Census and Ordnance Survey Ireland (for new 1SMS product). Post period end, the company announced a placing to raise £17 million to fund the acquisition of 90% of Star-Apic, provide additional working capital, establish a sales and support centre in the Middle East, and fund further potential acquisitions. The pro forma cash balance is £14 million. Strategy & outlook: 'Big Data' leads the way... Big Data is a term applied to data sets whose size is beyond the ability of commonly used software tools to capture, manage, and process. Big Data has increased the demand for information management specialists and software firms specialising only in data management and analytics, and industry valued at several billion dollars globally and growing significantly each year. The firm's core 1Spatial business taps into a sub-sector of this market through specialising in products to capture, manage, process and analyse large volumes of spatial data. The company's technologies allow users of spatial data, such as national mapping agencies, utilities, defence agencies and government departments, to accurately map land masses and networks and then effectively utilise that data to improve business processes, increase productivity and reduce costs. 1Spatial's products have their roots in the Cavendish Laboratory of Cambridge University but it is only recently that steps have been taken to fully commercialise this technology and expertise built up over the last 40 years. The imminent launch of the 1Spatial Management Suite (1SMS) should mark a step change in the business and provide the group with a leading end to end mapping software solution. 1SMS is highly scalable as its 'modular' products within the suite can also be sold on a stand-alone basis and can be offered either as an on-premise or SaaS solution. 1Spatial's is tapping into an established Geographic Information System (GIS) market with large incumbent players, but recent contract wins are evidence of the disruptive nature of its innovative products. Although GIS has been around for decades, the exponential growth in computing power and data volumes in recent years are transforming its significance. As broker N+1 Singer points out, "By viewing complex and interconnected data on a map (it is said that 70-80% of all data have a geographic reference), organisations can discover new insights and improve decision-making in a time when resources have to be increasingly prioritised." The GIS market is estimated to be worth $5 billion annually and is set to grow to an estimated $10 billion by 2015, providing 1Spatial with a significant tailwind. The initial focus is on signing up the national mapping agencies, 17 of whom (out of a total of 37) already have a dialogue of some kind with 1Spatial. There is a general recognition that these agencies need to evolve from being simply a supplier of traditional mapping products to being a provider of real-time, intelligent data from feature-rich databases; 1Spatial can help facilitate this evolutionary process. Further down the line, 1Spatial intends to access other verticals, where the potential applications of its technology are myriad. For example, utilities are investing in GIS to manage the information on their increasingly complex networks and comply with government regulations; real estate agents and bankers use GIS to track properties, property values and tax information; healthcare professionals use GIS to track the spread of disease and wellness information; and communications technology companies use GIS in planning their network expansion. The acquisition of Star-Apic can help out in this regard given its strong position in the utilities market. Assessment... Although the underlying 1Spatial business only delivered 5.3% revenue growth (adjusted for timing effects), it is worth bearing in mind that management devoted a lot of their attention to building out the product base during the period, and in any case a number of significant contract wins were negotiated that should take effect in future periods. We are not concerned by the EBITDA loss at this stage, as this is mainly down to central costs that should become less pronounced as the business builds scale. Furthermore, although operating costs are set to increase in the short term (for example, due to the sales and support centre in the Middle East), we expect this to be outpaced by sales growth. We also note that the company has the financial firepower to accelerate this process through further acquisitions, following the recent placing. Source: Company Accounts & N+1 Singer Forecasts & valuation... Broker N+1 Singer sees the company breaking into EBITDA profitability during the current year to January 2014 before making an adjusted pre-tax profit of £1.6 million in FY15 rising to £2.4 million in FY16. Given that this remains a buy-and-build story that continues to scale up, EV/Sales appears to be the most appropriate metric at this stage. On this measure, the group trades on a current multiple of 2.2x, falling to 1.7x for FY15. Peer group analysis suggests 1Spatial should be able to command an EV/Sales multiple of anywhere between 2-2.5x assuming that it can achieve double-digit organic growth in sales. At this stage in the group's evolution, we believe the valuation looks fair when balancing the growth opportunities against the risks. "Hold".
peterwaller395
05/7/2013
08:07
Red herring. It doesn't stop the company reporting likely revenue though.
yump
05/7/2013
07:53
Yump, a key consideration to note is that the software industry is governed by very complex revenue recognition rules, license revenue is recognised when its live and not until. This would heavily influence what gets reported when.
mwaller
05/7/2013
06:16
Yump. You can bet your bottom dollar the placees will have been given far more info than us lot that I am sure of.
412069
04/7/2013
17:29
As you say the ebitda looks solid for the 1Spatial business. When the results came out I was hoping for some signs that the initial 1.4mln (2 months) revenue for the 1Spatial unit, would have grown by the end of the year or at least management would give some figures about how it had grown after the year end, given the new OSi contract and the Brazilian one. It looks like it did grow fairly well, as the 1.4mln turned into 9.7mln as you say, which is around a 15% growth if I've got my figures right. That's why it would have been nice to have some current data, as I was expecting it to be accelerating, given the additional contracts announced before year end. Perhaps it is. Hopefully the placees are not party to any information that pi's are not.
yump
04/7/2013
15:05
The interesting thing to note is that the 1Spatial business unit did 9.7m and 1.4m ebitda, which by itself is pretty sound. Looks like the rest is fizzling out. So if this is focused on solely then with the complementary latest acquisition we should see some decent returns provided the exec management ceases being quite so greedy.
russell_hobbs
04/7/2013
07:17
Morning all, I have gone through the above linked report (thanks TSMITH2 - good read) and the release. I believe SPA can and will deliver. I do understand the concerns raised by some on the release, there could be more forward transparency. However having read the report, which is very thorough, I maintain the fundamentals I backed for the core opportunity remain the same. I am heavily invested for what I believe are sound reasons: there remains a strong upside opportunity driven by core IP, unique capabilities and a today growth market catalyst. It is of course speculative, and we need to see hard results come through to evidence. They project both revenue and margin growth pc for FY 14 (54/59), FY 15 (30/66), this is respectable. I believe there is nothing to doubt at this stage that this can't and won't happen . On the contrary, having gone through the report which underpins my own understanding and research - I am further encouraged. The report gives a thoroughly good insight to the strategy that needs to be executed, and outlines clearly the opportunity and considerations. It goes into quite some detail, and provides conservative projections. It explains SPAs market USP, and why their technology is able to compete against much bigger and more powerful competitors. SPA have had to be under very recent scrutiny by key institutions participating in the placing addressing the core market fundamentals of the opportunity and SPAs position within it. Therefore everything is as was before results. There are even speculative opportunities and possibilities beyond those noted in the report (e.g Hadoop) as previously mentioned.Indeed in the report we have confirmation of the imminent launch of the new 1Spatial Management Suite in August. A flagship customer that has adopted this Suite (SMS1) prior to formal launch, and the Star-Apic acquisition is just starting to be integrated into SMS1 - easily because they have the same core technology. (SMS1 and object orientation is explained well in the report). By way of example of the type of advances recently made under the new leadership, as part of the results of productisation, you can see the 1Edit webcasts. This is an example of a new innovative product incorporated in a Suite fixes a key spatial data management problem in the core customer base, enabling new capabilities, and reenforces their existing technologies. It differentiates SPA from competitors by using its big data technology to make scale mobile edits possible. Much larger competitors cannot address this scale and therefore spatial big data management problem the same way due to their technology limitations. This creates a problem for them and an opportunity for SPA. Anybody (who cares to look) can simply understand what this 1Edit add-on does and the innovative value proposition by watching the webcast. Spatial also starts to get main-stream simple using this technology. Its accessible to many more, not just trained boffins. With the Star-Apic capabilities they can now actually bundle and publish mapping data into their core (customers) customers like Utilities. They do now for the first time have complete scope coverage to meet national customer spatial big data needs, alongside the commercial base, which is huge. They each no longer need to partner to offer an end to end solution as previously. Customers do not need to go to a competitor to get a complete or part solution to compliment the SPA offering. This is very significant from a software solutions provider perspective in terms of competing and addressable market size. These are presumably some of the "facts" underpinning the revenue and margin uplift forecasts. Therefore this is a very astute acquisition; money well spent. A complimentary bolt on to SPA technology, building both market and geographic presence. Given the evolving Spatial Big Data market, in this case, the sum of the whole is certainly greater than the parts. SPA is better off with than without, as is Star-Apic. Modernising established players which own core IP to compete for the new arising opportunities is a very legitimate strategy, and a proven core competence within SPA leadership. Established smaller players have numerous advantages over start ups if they can be be reinvigorated. SPA itself has been reinvigorated. With the Placing, admission of David Richards - a proven software industry executive with a track record of delivery, and some possible interesting direction in Hadoop Big data, there is definitely an intention and base capability at all necessary levels to succeed. The products of SPA/Star-Apic would and should continue to evolve and adapt from their heritage. Every software business does this. It's expected by customers and shareholders alike. Any software company without continued innovation and development to keep its ideas, offerings and capabilities fresh the company dies. Product and service innovation is the source of growth for every healthy software business. What SPA have previously developed is ready, implemented and proven, in whats globally recognised as the worlds most advanced national mapping agency no less (noted also in report)! They were a key reference point for the US Census. They have established customers acquired over many years, with some prolific new ones and key renewals in the past 12 months. They can now address this base and market with new offerings, to a broader audience, wrapped in the 1Spatial Management Suite, and target new customers alike. They are evolving their offerings to better address growing market needs, to further strengthen their core position. They can with the 1SMS suite manage publish and analyse huge spatial datasets. This is a unique capability.We of course need to see this "opportunity" coming through, in contract awards, revenue growth, and profits - evidenced sooner than later, and surely my expectation is we will. We need to give the leadership leeway and time to execute their gameplan. SPA has just now entered the early growth stage. This is still relatively speaking very near to the start of the journey and we have a long way to go. There is a lot of commercial opportunity and share-price upside - so long as they continue to execute. The projections underpinning this are also outlined in the report. This will be driven and underwritten by real growth in revenues and profits as they take marketshare and not just sheer speculation.Lastly, to keep things in perspective, look back: give the new leadership some credit. They have indeed come a long long way. Its not the same company as even just a year ago.They have already managed to get SPA so far and well positioned to now credibly compete globally as a "player", and capitalise the spatial big data opportunity. They are already having somebodies lunch at the US Census Bureau. Think about SPA before the recent placing. Go back further to old AVI or old SPA. Read and digest the report and draw your own conclusions. Has this Placing and acquisition and the 1Spatial Management Suite productisation efforts not created potentially so many more opportunities and upside for us as shareholders? Are we now not all better off with the new SPA than the SPA of a year ago or even two months ago - when we consider the range of possibilities opened up ahead to lock in opportunity, growth, and upside?SPA leadership to their credit have acquired the chance and the resources to show the market what they can do. They already are and they they will continue to do so - why not? We the shareholders will all continue to watch carefully, and as SPA execute we will all be rewarded.Good luck to everyone - what ever you all decide to do. Those that join and stay - hang on!
mwaller
03/7/2013
15:03
mmeldy..email spa.
412069
03/7/2013
14:52
i'm still waiting for the correction ffs
mmelody
03/7/2013
09:02
I agree, to early to jump ship. I think SPA will deliver.
peterwaller395
03/7/2013
08:53
Lets wait and see what rns should of been posted then lads. Could be a good one YUMP hold your horses!
412069
03/7/2013
08:50
it is...final nail in coffin for me. I'll come back in autumn. very disappointed with forward statements on RNS.
mmelody
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