IQGeo Group Plc's (LON:IQG) Richard Petti and Hayward Chapman talk to Proactive London's Polly Middlehurst about the acquisition of OSPInsight.
Under the terms of the agreement, IQGeo will purchase OSPInsight for US$8.75mln which will be funded through a mix of cash and shares.
Petti believes this purchase will "complement our product and globalise it and increase our revenue from their customer base". The firm has also announced a fundraise of £5mln.
While the current IQGeo offering targets larger enterprise network deployments (tier 1 and tier 2 operators), the OSPInsight software is ideally suited for the needs of smaller networks (tier 3 and tier 4 operators) with simple, fast deployments.