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
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
-
Revealed: the countries with the most generous pensions
The UK state pension is often criticised for failing to deliver a comfortable retirement. So, how does our pension system compare to other countries - which countries are most generous, and at what age can you claim a state pension?
By Ruth Emery Published
-
Private school fees soar and VAT threat looms – what does it mean for you?
Rising private school fees could see more than one in five parents pull their children out of their current school. Before you remortgage, move house or look to grandparents for help, here’s what you need to know.
By Katie Williams Published