Press Release

Cambridge, 01 December 2020IQGeo[1] (AIM: IQG), a developer of geospatial productivity and collaboration software for the telecoms and utility industries, today announced a successful fundraise of £5.0 million and the acquisition of OSPInsight International, Inc[2]. Under the terms of the agreement IQGeo will purchase OSPInsight for $8.75m which will be funded through a mix of cash and shares. The completion of the acquisition is subject to shareholder final approval.

The OSPInsight fiber planning and design software for the telecoms market is highly complementary with IQGeo’s own geospatial software[3] that also supports telecoms network operations. 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. The combination of the two product lines, as well as the telecoms industry[4] and software technology expertise, will enable IQGeo to service an expanded target market in existing and new geographies.

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