Business
Nearmap shares crash 21 per cent on US patent suit – The Australian Financial Review
Regardless of the final outcome in the US district court in Utah, American patent litigation can be costly for Australian companies.
We also know Eagleview are historically very litigious and they use this as part of their tactics to compete.
We are performing very well in the North American market so in a broader sense its probably not a surprise.
The legal action comes after Nearmap increased its annual contract value guidance (ACV) to a range of $128 million to $132 million (up from $120 million to $128 million) this week thanks to strong growth across its three key verticals of insurance, government and roofing.
The business…
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