9th Jun 2025 10:26
(Alliance News) - Pri0r1ty Intelligence Group PLC on Monday said it has struck a share purchase agreement to buy London-based sports data and marketing business Halfspace Ltd.
Pri0r1ty Intelligence is a London-based software company which focuses on artificial intelligence and growth services for SMEs.
It will issue up to 30.8 million shares at 2.5 pence each to the shareholders of Halfspace, worth a total of GBP769,230. The firm will issue half the shares on completion of the acquisition, with the other half to be issued pending performance targets.
Halfspace must achieve revenue of at least the approximate average of the last two years, worth around GBP630,000, in the twelve months after completion to meet the target.
The company said Halfspace is "operationally profitable". It recorded revenue of GBP925,911 in the 12 months to the end of March, more than doubled from the prior year, with pretax profit of GBP98,243.
Pri0r1ty Intelligence said the deal is expected to expand the deployment of its AI products into a new sector.
A key part of the acquisitions is the continued development and global roll-out of Capitano, the joint venture product between Pri0r1ty and Halfspace.
The Capitano AI platform was launched in March and acts as a unified data intelligence solution, consolidating data sources such as performance statistics, fan engagement metrics, ticket sales and merchandise analytics.
Halfspace Chief Executive Officer Rory Maxwell will be appointed as chief operating officer of Pri0r1ty after the completion of the acquisition.
"As part of a wider growth strategy, the acquisition of Halfspace will allow Pri0r1ty to move into the highly attractive market of sports with a strong existing customer base and proven revenue generation," said Pri0r1ty Chief Executive Officer James Sheehan.
"We believe the sports industry to be a prime target for existing and new AI products to facilitate growth for customers and streamline operations. The knowledge and skillset of the Halfspace team gives the company a competitive advantage. We have a clear goal of becoming the data and AI leader in a sector which is forecast to be worth an estimated USD500 billion in the near future."
Shares in Pri0r1ty Intelligence were up 5.4% at 2.32 pence in London on Monday morning.
By Michael Hennessey, Alliance News reporter
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