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IQGeo'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 $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 completion of the acquisition is subject to shareholder final approval and the firm has also announced a fundraise of £5 mln.
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.
