MapsPeople announced the signing of a large contract expansion with one of North American customers. The expansion is to deliver next generation High Definition 3D indoor maps for a new HQ building and upgrading the indoor maps for all existing 190 office buildings.maps. The delivery will include newly launched Map Update Automation solution, built on MapsIndoor AI which has been trained on over 25,000 buildings mapped by MapsPeople, to keep customers' indoor maps updated in real time as changes occur.

The contract expansion has an annual value of DKK 1.3 million taking the total annual contract value of this customer above DKK 3.5 million. The new additional annual recurring revenue of this contract is below the DKK 2.0 million threshold that requires a company announcement according to MapsPeople information and communication policy.