Award-winning geospatial software solutions provider
August 2022 Fundraise:
Amount raised: £3.5m at 125p/share
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IQ Geo is a geospatial software solutions provider to telecommunications and utility network operators, with a diverse client base, ranging from large multinationals to small regional providers.
Its mobile-first enterprise solutions maintain an accurate view of complex network assets that are easily accessible by anyone whenever required. IQGeo is working in industries that are experiencing structural growth, from expanded broadband services to electrical grid modernisation and decarbonisation.
IQGeo announced a placing in August 2022, raising proceeds of £3.5mn, these funds are going towards funding acquisition and providing further working capital. IQGeo has acquired COMSOF, a Belgian geospatial software company that builds and licences market-leading fibre optic design software for a total consideration of €13m.
The acquisition should help accelerate business in fibre optic design planning in high-value markets in which nationwide fibre optic networks are being rolled out at speed (North America and Germany). Predominantly, COMSOF has a license-based business model, which should increase the proportion of recurring revenues for IQGeo. This should prove additive to IQGeo’s end-to-end service model, which currently enables IQGeo to derive a high proportion of recurring revenue, enhancing cash flow visibility.