UK Big Data Specialist 1Spatial to Buy Enables IT in GBP 2.08m Deal.
22 June 2015 - The boards of directors of UK-based software firm 1Spatial plc and UK-based IT management and consultancy Enables IT Group plc have agreed the terms of a recommended offer to be made by 1Spatial plc for the entire issued and to be issued ordinary share capital of Enables IT, the companies said.
Under the terms of the offer, Enables IT Shareholders will be entitled to receive 1.13 1Spatial shares for each Enables share held.
Based on the Closing Price of 6.75 pence per 1Spatial Share, on 17 June 2015 (being the last business day before the date of this announcement), the terms of the offer represent a value of approximately 7.628 pence per scheme share and apremium of approximately 27.13%. to the closing price of 6 pence per Scheme share on 17 June 2015; and a value of approximately GBP 2.08m (USD 3.31m) for Enables IT's entire issued and to be issued ordinary share capital.
1Spatial Plc Group comprises a group of software and solutions companies each trading under its individual brand, including 1Spatial Group, Avisen, Storage Fusion and Sitemap.
The common link between the trading entities is 'big data.'
1Spatial's businesses provide software solutions that ensure data quality, management, evaluation and efficiency in big data. The largest 1Spatial subsidiary being 1Spatial Group, has subsidiary undertakings in the UK, Ireland, France, Belgium and Australia.
Enables IT is an IT management and consultancy service provider operating in the UK and the US providing clients with solutions for the design and management of their IT Infrastructure.
Sector: IT/Online Services
Target: Enables IT Group plc
Buyer: 1Spatial plc
Deal size in USD: 3.31m
Type: Corporate Acquisition
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Jun 22, 2015|
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