1Spatial, the UK-based geospatial validation and integration specialist, has changed ownership. The investment group IQ Holdings has orchestrated a reverse takeover, where they have purchased control of the private company and will take it public, with plans to rename the combined company 1Spatial Holdings plc in order to reflect the new business strategy. The strong financial performance of the company, with seven years of profitability and a stable set of large enterprise customers, have made it an attractive target.
Among the company’s clients is the Ordnance Survey, Environment Agency, Vodafone, Royal Air Force, and the Scottish Government. The bulk of the company’s success has been in Europe and Asia Pacific, and the announcement of the switch in ownership indicates that these geographies will be the primary focus going forward.
The Cambridge-based company has a rich history in the geospatial community, starting as a digitization company in 1969 as Laser-Scan. The early hardware focus of using lasers to scan images shifted to software in 1996, and the company changed its name to 1Spatial in 2006. The company’s work with large mapping agencies and large private companies has centered on geospatial data management.