16th Jan 2014 14:53
LONDON (Alliance News) - Big data company 1Spatial PLC Thursday said it has bought the final 10% of Star-Apic it didn't already own from Meusinvest S.A for EUR666,984.
"The timing is right for Star-Apic to be fully integrated into 1Spatial as the business moves forward as a single brand with an integrated solution set for our core markets. The board would like to thank Meusinvest for their assistance and support over the past six months," Chief Executive Marcus Hanke said in a statement.
The move comes after 1Spatial last May agreed to acquire a 75.14% in the land and infrastructure management software supplier, which was followed by a further agreement to acquire another 14.86% stake in the business.
The initial 90% stake was bought in June for GBP5.2 million, excluding direct costs of acquisition.
1Spatial shares were Thursday quoted at 9.30 pence, down 0.20 pence, or 2.1%.
By Samuel Agini; [email protected]; @samuelagini
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