Shares in 1Spatial (AIM:SPA) climbed 5% to 71.51p on Wednesday after the company formally agreed to a recommended £87.1 million cash takeover offer from VertiGIS, a global geographic information systems (GIS) software provider backed by Battery Ventures.
Under the terms of the deal, 1Spatial shareholders will receive 73p in cash per share, a 57% premium to the closing price before the offer was first floated in December.
The acquisition will be implemented via a court-sanctioned scheme of arrangement and is expected to complete in the first half of 2026, subject to shareholder and regulatory approval.
1Spatial, a specialist in Location Master Data Management (LMDM) software, provides cloud-enabled tools to automate and validate complex location data. The company has a strong presence in government, utilities, and infrastructure markets, particularly in the UK, the US and Australia.
VertiGIS, which is based in London and operates in nine countries, said the acquisition would expand its product and geographic reach, combining complementary technologies and customer bases. It already works with 1Spatial through a long-standing distribution partnership.
More than half of 1Spatial’s shareholders (including management and key institutional investors) have backed the offer through irrevocable undertakings and letters of intent.