21st Jan 2026 10:39
(Alliance News) - 1Spatial PLC on Wednesday said it has agreed to a recommended all-cash takeover by VertiGIS Ltd, valuing the Cambridge, England-based location master data management software at around GBP87.1 million.
Under the terms of the deal, 1Spatial shareholders will receive 73 pence in cash for each share they hold. The offer represents a premium of about 57% to the company's closing share price of 46.50 pence on December 11, the last business day before the possible offer was announced.
1Spatial shares were up 5.3% at 71.58 pence in London on Wednesday morning.
VertiGIS, a geographic information systems provider, which is backed by private equity firm Battery Ventures LP, said the deal would combine two complementary businesses with strong positions as well as a broad geographic footprint.
The transaction will be implemented by way of a court-sanctioned scheme of arrangement and is expected to complete during the first half of 2026, subject to shareholder, court and regulatory approvals.
1Spatial's board said it considers the terms of the offer to be fair and reasonable and intends to recommend unanimously that shareholders vote in favour of the scheme. Directors who hold shares have given irrevocable undertakings to support the deal in respect of around 1.3% of the company's issued share capital.
VertiGIS has also secured irrevocable undertakings and non-binding letters of intent from a number of institutional shareholders, covering approximately 52% of 1Spatial's issued share capital as of Wednesday.
1Spatial Chair Andy Roberts said the offer "highlights the inherent value of the 1Spatial Group and represents an attractive valuation, providing shareholders with certainty through cash consideration, and greater opportunities for our team and increased resources to support our customers".
VertiGIS Chief Executive Andy Berry said the acquisition represents "a compelling opportunity to build a leading global provider of geographic information systems-enabled solutions with a compelling product and services portfolio".
By Eva Castanedo, Alliance News reporter
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