Acquisition of final 10% of Star-Apic

RNS Number : 8490X

1Spatial Plc

16 January 2014

 



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

 

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