1Spatial raises funds for Star-Apic acquistion
1Spatial has raised 18m pounds through the placement of 300m shares to fund its acquisition of Star-Apic.
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
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
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
-
CrowdStrike IT outage: a global meltdown
Millions were affected by the CrowdStrike IT outage recently, which grounded flights and took the news off the air. Was this just a hiccup or a warning of much worse to come?
By Simon Wilson Published
-
Revolut finally bags a UK banking licence – what's next for the fintech?
Revolut has finally been granted a UK banking licence following three years of negotiations with the regulator
By Kalpana Fitzpatrick Published