21st Aug 2025 13:26
(Alliance News) - Ikigai Ventures Ltd on Thursday said it has entered non-binding heads of terms to buy Dotlines Global PLC and Audra Solutions Ltd for GBP67 million.
The special purpose acquisition company focused on Asia and Europe said the target group is a "vertically integrated technology group" which operates across the US and Southeast Asia.
The firms focus on solutions in digital infrastructure, artificial intelligence-driven cyber security and fintech.
The consideration for the acquisition will be paid through the issue of new Ikigai shares.
Following completion, it intends to seek admission of the enlarged share capital to trading on the AIM market of the London stock exchange.
The target group reported unaudited pro forma revenue of GBP22 million for 2024, with earnings before interest, tax, depreciation and amortisation of GBP1.7 million.
"We are delighted to announce our agreement with Dotlines and Audra, an innovative and fast-growing technology group operating at the intersection of digital infrastructure, cybersecurity, and fintech. Dotlines' platforms enhance connectivity and security in underserved markets, delivering practical solutions with meaningful impact," said Ikigai Chief Executive Kane Black.
"I have been impressed by the calibre and vision of the Dotlines and Audra leadership team, whose deep sector expertise positions the target group well for its next stage of growth. We look forward to working together to achieve a successful admission to AIM to support Dotlines' and Audra's global ambitions."
The proposed acquisition is subject to due diligence, execution of binding share purchase agreements, shareholder approval and admission to trading on AIM.
Ikigai said its shares have been suspended in London as a result of the agreement.
By Michael Hennessey, Alliance News reporter
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