Last checked at 16 Jan 2014 14:12
16 January 2014
1Spatial plc (AIM: SPA)
("1Spatial"or the "Company)
Acquisition of final 10% of Star-Apic to be a wholly owned subsidiary of 1Spatial plc
1Spatial plc (AIM: SPA), the Spatial Big Data Company, has today completed the acquisition of the final 10% of the issued share capital of Star-Apic from Meusinvest S.A ("Meusinvest"),
The total consideration for the Meusinvest Shares was €666,984 and is based on the same valuation terms as the initial agreement when 90% of Star-Apic was purchased by 1Spatial in June 2013. The transaction will also involve the resignation of the Meusinvest representative Director from the Board of Star-Apic.
Marcus Hanke, Chief Executive Officer of 1Spatial plc, commented:
"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".
For further information, please contact:
1Spatial plc | 0203 427 5004 |
Marcus Hanke / Claire Milverton | |
FTI Consulting | 020 7831 3113 |
Sophie McMillan / Lucy Delaney | |
N+1 Singer | 020 7496 3000 |
Shaun Dobson / Matt Thomas |
About 1Spatial
1Spatial technology provides the foundations for data management and processing solutions around the world. Customers include National Mapping and Charting Agencies, utilities companies and defence and government departments. Visit www.1spatial.com