LONDON: Ikigai Ventures Limited (LSE: IKIV), a special purpose acquisition company targeting high-growth, scalable businesses, said Thursday it has entered into conditional, non-binding heads of terms to acquire Dotlines Global Plc and Audra Solutions Limited for approximately £67 million.
The proposed acquisition, subject to due diligence and execution of definitive agreements, will be satisfied through the issuance of new Ikigai shares. Upon completion, Ikigai plans to seek admission of its enlarged share capital to trading on AIM, the London Stock Exchange’s market for growth companies.
The Target Group, comprising Dotlines and Audra, is a vertically integrated technology firm operating across the UK and Southeast Asia. Its portfolio spans digital infrastructure, AI-driven cybersecurity, and fintech solutions. Headquartered in London, the group also maintains offices in Singapore and Malaysia.
Key innovations include:
- Sohoj, a digital lifestyle platform for migrant communities
- Catena, an AI-powered OSS/BSS platform for telecom operators
- Audra, a cloud-managed security device for homes and SMEs
- Carnival Internet, a UK-based full-fibre broadband provider
- Digital Gamification & Engagement, a fast-growing division serving fintech and telecom partners
For the year ended Dec. 31, 2024, the Target Group reported unaudited pro forma revenues of £22 million and EBITDA of £1.7 million.
Allenby Capital Limited has been appointed as Sponsor, Financial Adviser, Nominated Adviser, and Broker for the transaction and proposed AIM admission.
“We are delighted to announce our agreement with Dotlines and Audra,” said Kane Black, CEO of Ikigai. “Their platforms enhance connectivity and security in underserved markets, and we look forward to supporting their global ambitions.”
Mahbubul Matin, Founder and Chairman of Dotlines and Audra, said the transaction marks a pivotal step in scaling the group’s reach and impact.
The acquisition will involve delisting Ikigai from the FCA’s Official List and the Main Market of the London Stock Exchange, with subsequent admission to AIM. The deal remains subject to shareholder approval, regulatory waivers, and customary conditions.