Ubisense, the Cambridge location solutions company, has acquired Integrated Mapping Services Inc (InMaps) in the US for $700k cash.
InMaps focuses on delivering geospatial business solutions to electric and gas utilities. It 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 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 December 31, InMaps had revenues of over $1m.
Ubisense CEO Richard Green said: “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.”
Despite stockmarket volatility that has hit many tech stocks, Ubisense has held its share price around 195p - not far off the high since its London IPO in June. The share debuted at 180p but has been as high as 212.5p.