1Spatial agrees terms of £87m bid by VertiGIS, shares surge

12th Dec 2025 08:53

(Sharecast News) - Geospatial software firm 1Spatial surged on Friday after it agreed in principle on the key terms of a 73p-a-share takeover by VertiGIS, a portfolio company of Battery Ventures.

The possible offer values 1Spatial at about £87.1m and the price represents a premium of 57% to the closing share price on Thursday.

VertiGIS said it has completed commercial due diligence, has a clear understanding of the 1Spatial business and requires "only limited confirmatory diligence" to proceed to an announcement of a firm intention to make an offer.

The board of 1Spatial has already confirmed that it plans to unanimously recommend an offer, should one be made.

1Spatial said the offer would deliver "certain and fair value" to shareholders, providing an immediate liquidity event at a cash price representing a premium to recent trading, "while removing exposure to execution risk inherent in scaling enterprise SaaS companies and to public‑market volatility".

It would also accelerate the group's strategy under private ownership, enabling increased investment in go‑to‑market, product, and customer success beyond what is feasible "given balance‑sheet constraints and the costs and disclosure obligations associated with an AIM listing", it said.

"The board remains highly confident in the standalone prospects of 1Spatial as an independent company over the medium to long term and is pleased with the progress made over the last few years in advancing its strategic priorities," it said.

"The board has however, in summary, concluded that the possible offer presents an attractive valuation for 1Spatial and a compelling liquidity opportunity not currently afforded by the public markets and accelerates the ability to scale and deploy capital to significantly grow the business."

At 0920 GMT, the shares were up 42.5% at 66.25p.