Skip to main content Skip to footer

1Spatial, the global geospatial software and solutions company, is pleased to announce that the Group has entered into two separate share purchase agreements (each a “SPA”) to acquire the entire issued share capital of Geomap-Imagis Participations (“Geomap-Imagis”) (the “Acquisition”), for total consideration of €7.0 million (the “Consideration”). In order to fund the cash element of the Consideration, 1Spatial also announces a placing to raise £3.1 million (gross) (the “Placing”) through the issue of 9,871,220 new ordinary shares in the capital of the Company (the “Placing Shares”) at a price of 31.5 pence per share (the “Placing Price”), a discount of approx. 5 per cent. to the closing middle market price on 7 May 2019.

Alongside and in conjunction with the Acquisition, 1Spatial France and 1Spatial Belgium (together, “1Spatial Europe”) has entered into a new partnership agreement with Esri Inc. (“Esri”) (the “Partnership Agreement”). The Company believes that the Partnership Agreement, combined with the Acquisition, will be of significant benefit to the Company’s existing European customers in providing them with access to Esri’s market leading global GIS platform. In addition to being immediately earnings enhancing, the acquisition offers a combination of specialised vertical business applications and significant ‘know-how’ in the Group’s target sectors, which can be delivered through the combination of 1Spatial Europe and Geomap-Imagis. 

Claire Milverton, CEO of 1Spatial, commented:

“We are delighted to announce this new partnership with our global partner Esri and the acquisition of Geomap-Imagis. The deal is immediately earnings enhancing and will significantly strengthen our customer proposition and align our French and Belgian businesses with the strategy of the wider Group as a solution provider with a focus on industry aligned business applications and Location Master Data Management.

Geomap-Imagis operates within 1Spatial’s existing markets and is an Esri Gold partner. The acquisition will provide a number of vertically focussed software business applications and will add a new vertical in Facilities Management, an area where we see great potential for our Location Master Data Management offering. We expect to be able to achieve a range of strategic synergies and it offers substantial land and expand potential, in-line with our stated strategy. We look forward to welcoming the Geomap-Imagis employees and customers to the Group.”

About 1Spatial Plc

1Spatial is a technology-enabled solutions provider supplying vertically-focused business applications to industry sectors where the accuracy of location and geospatial data is key. It is a global leader in managing geospatial data, with the goal to be a market leader in Location Master Data Management. 1Spatial provides its customers with business-focused applications where there is a reliance on location or geospatial data. It delivers real value by using its patented 1Integrate tool to ensure that the underlying data is current, complete and consistent through the use of automated processes. This ensures that decisions are always based on the highest quality information available.

Singer Capital Markets is acting as Nominated Adviser and Sole Broker to the Company.

Ticker: SPA
Current Market Cap: £34.1 million*
Website: Click Here

*As at 08/05/2019 

[follow align=”center” twitter=”” linkedin=””]