1Spatial has raised 18m pounds through the placement of 300m shares to fund its acquisition of Star-Apic.
The software company has agreed to acquire 75.14% of the issue share capital of Star-Apic for €5.1m.
Star-Apic, based in Belgium, is a provider of geographic information systems software and solutions, specialising in land and infrastructure management.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"I am delighted to announce the news today of our placing and subsequent acquisition of Star-Apic," said Chief Executive of 1Spatial, Marcus Hanke.
"1Spatial is a leading geospatial technology provider with the strategic goals to expand into other geographic markets, enhance and increase our product offerings, and support other vertical sectors."
1Spatial will also use the proceeds of the fundraising for additional working capital, to open a sales and support centre in the Middle East and for product development, marketing and further potential acquisitions.
Shares climbed 16.67% to 7.88p at 12:02 Friday.
RD
-
RICS: Housing market continues to strengthen but 2025 could be challengingThe latest survey by the Royal Institution of Chartered Surveyors reports a resilient UK housing market, but warns of headwinds next year
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrencyAccording to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
