LONDON: VertiGIS Ltd said on Tuesday it has agreed to acquire British software company 1Spatial Plc for about £87.1 million ($110.6 million) in cash, in a deal aimed at creating a global provider of geographic information systems (GIS) and location data management solutions.
Under the terms of the recommended offer, 1Spatial shareholders will receive 73 pence per share, representing a premium of nearly 57% to the stock’s closing price of 46.5 pence on Dec. 11, the day before the companies disclosed talks.
The acquisition will be carried out through a court-sanctioned scheme of arrangement under the UK Companies Act. VertiGIS has already secured support from 1Spatial’s board, which unanimously recommended the offer, as well as irrevocable undertakings and letters of intent covering about 52% of the company’s shares.
VertiGIS, backed by private equity firm Battery Ventures, said the deal would combine its strength in utilities, government and infrastructure with 1Spatial’s expertise in location master data management (LMDM), expanding its reach across Europe, North America and Australia.
“We believe the combination of our two businesses represents an opportunity to build a leading global provider of GIS-enabled solutions,” VertiGIS Chief Executive Andy Berry said.
1Spatial Chairman Andy Roberts said the offer provided shareholders with “certainty through cash consideration” and would give the company greater resources to support customers and develop new products.
The transaction is expected to close in the first half of 2026, subject to shareholder and court approval as well as regulatory clearances.