Ubisense Group plc Acquisition of US geospatial location solutions business
Ubisense Group plc (AIM: UBI, "Ubisense" "the Group"), the market-leading location solutions company, has acquired Integrated Mapping Services Inc ("InMaps"), a US-based company focused on delivering geospatial business solutions to electric and gas utilities, for $700,000 in cash.
InMaps' provides a suite of products, integrated with GPS and geospatial products such as GE Smallworld, to help utilities improve reliability and comply with industry regulations.
The acquisition of InMaps strengthens Ubisense's offering in the electric and gas industries and solidifies the Group's position as one of the world's leading location solutions companies. InMaps will become part of the Group's Geospatial division and will operate under the Ubisense name.
In the year to 31 December 2010, InMaps had revenues of over $1m.
Richard Green, Ubisense CEO, commented:
"The products that InMaps has developed for the gas industry are a perfect fit with our own offering and the direction we are taking our Geospatial business.
"System safety and reliability are increasingly complicated and critical issues for gas and electric utilities. With the acquisition of InMaps, we will now be able to deliver a comprehensive suite of geospatial business solutions which will help our customers meet these challenges with the best available technologies."