Aerometrex Limited, a company listed on the ASX, has recently announced a new licensing agreement with Landchecker worth a minimum of $2.65 million for their MetroMap service. This agreement strengthens the existing partnership between the two companies, significantly boosting revenue from Aerometrex’s MetroMap partner program and creating new avenues for growth.
Landchecker, a property data and technology business based in Melbourne, offers customers fast, accurate, and easily understandable insights to support informed property decisions across Australia. Landchecker currently utilizes MetroMap’s high-resolution aerial imagery on its online platform, which is subscribed to by their customers who access integrated products through the platform.
Steve Masters, CEO and Managing Director of Aerometrex, expressed his enthusiasm for the deal, stating, “This agreement represents a significant opportunity for both Aerometrex and Landchecker, leveraging our strong foundation and collaborative relationship. We are excited about the potential benefits this new agreement brings to our customers and look forward to working closely with Landchecker to maximize its value. This is the largest MetroMap partner program agreement in Aerometrex’s history and will make a substantial contribution to MetroMap’s Annual Recurring Revenue (ARR) throughout the contract term.”
Adam Gandolfo, Chief Executive Officer of Landchecker, also shared his thoughts on the agreement and its advantages for their customer base, saying, “We are thrilled to expand our successful partnership with Aerometrex. Landchecker customers frequently engage with MetroMap’s high-resolution aerial imagery, which is an important data set for them. This partnership will enable us to offer more customers an attractive package, combining our leading property data and insights with MetroMap’s quality high-resolution imagery under flexible and cost-effective commercial arrangements. We believe this partnership will greatly benefit all parties involved, particularly Australia’s property professional community.”
Before this agreement, Aerometrex’s MetroMap partner program included around 30 partners and contributed approximately $1.2 million in annual revenue as of December 31, 2022. This new agreement aligns with Aerometrex’s strategic initiatives to develop successful partner programs, enhance brand awareness, and expand sales channels for future revenue growth.
Scott Butterworth, nominee Director for PEXA at Landchecker, emphasized the significance of this agreement, stating, “This agreement solidifies the partnership between Landchecker and Aerometrex. As Landchecker continues to expand its offering among Australia’s legal practitioners and conveyancers, datasets like High-Resolution Imagery are increasingly vital for efficient property transactions and settlements.”
Michael Sheehy, nominee Director for RACV at Landchecker, added, “This is a great partnership for Aerometrex and Landchecker – we are looking forward to seeing both businesses thrive.”
Aerometrex is dedicated to further enhancing its MetroMap product through ongoing investments in image capture, customer platform development, and product advancement.
Under the recently established agreement, Landchecker has committed to procuring a specific number of customized MetroMap licenses from Aerometrex. Additionally, Landchecker retains the option to purchase additional licenses beyond the predetermined quantity during the agreement’s duration. The acquired licenses can be subsequently made available to Landchecker’s customers through their platform. The agreement encompasses the following key terms:
- Aerometrex will receive a minimum annual payment fee of $0.8 million from Landchecker for a predetermined number of licenses.
- Landchecker has the option to acquire extra licenses beyond the predetermined amount at a mutually agreed price per license, creating additional revenue opportunities for both Aerometrex and Landchecker throughout the contract duration.
- There is no limit to the number of additional licenses that Landchecker can purchase from Aerometrex above the fixed license quantity.
- All license payments will be subject to annual fixed indexation and will be invoiced on a monthly basis.
- The agreement will commence on May 1, 2023, and will expire on June 30, 2026.
- The agreement will include standard terms and conditions typically found in agreements of this nature.
