Adelaide aerial mapping company lands lucrative deal
Aerometrex Limited has signed its largest partner agreement for its MetroMap service in a multi-million-dollar deal with Melbourne property services company Landchecker.
Aerial shot taken using Aerometrex's MetroCam. Photo: Aerometrex.
The Glynde-based geospatial tech company has entered into a $2.65 million license agreement for its high-resolution MetroMap aerial imagery to be used on Landchecker’s property insights platform.
Landchecker is a Melbourne-based property data and technology business owned by RACV, PEXA and its founders, architects Will Leaf and Toby Ewert and developer Ed Farquarhson.
The company provides property information to more than 90,000 property professionals, including developers, valuers, real estate agents, architects and town planners across Australia.
Aerometrex’s CEO & Managing Director, Steve Masters, said MetroMap’s high-resolution aerial imagery is currently used within Landchecker’s online platform and the deal would allow them to formalise the use through a license agreement.
“This is the largest MetroMap partner program agreement in Aerometrex’s history and will make a strong contribution to MetroMap’s Annual Recurring Revenue stream over the (three year) contract term,” Masters said.
Aerometrex Limited (AMX) is a 30-year-old company, which listed on the ASX in December 2019 and has a market cap of about $36.4 million.
The agreement involves Landchecker purchasing a fixed number of tailored MetroMap licenses for $800,000 a year for three years, with the ability to buy an uncapped number of additional licenses at an agreed price.
Landchecker’s Chief Executive Officer, Adam Gandolfo, said MetroMap’s High-Resolution aerial imagery is an important data set that many Landchecker customers use each day and having more licenses would allow even more property professionals to use the platform.
“This partnership will enable us to provide more customers an equally compelling proposition, bundling our leading property data and insights with quality high-resolution imagery from MetroMap under flexible, cost-effective commercial arrangements,” he said.
“We see the partnership as a great outcome for all concerned, particularly Australia’s property professional community.”
Aerometrex’s MetroMap partner program has about 30 members and, prior to this agreement, contributed approximately $1.2 million of annual revenue.
