Cambridge-California alliance enhances 1Spatial’s European expansion
Cambridge geospatial technology business 1Spatial has agreed to acquire French company Geomap-Imagis Participations for €7 million.
The UK company is raising £3.1m (€3.61m) in an already oversubscribed placing to fund the cash element of the purchase price.
In parallel, 1Spatial Europe (including its French and Belgian divisions) is partnering with Californian company Esri Inc to hand 1Spatial”s European customers access to Esri’s market leading global GIS platform.
1Spatial says Geomap-Imagis offers a strong strategic fit with the group and the acquisition is expected to be immediately earnings enhancing.
Claire Milverton, CEO of 1Spatial, said: “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 focused 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.”