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Aerometrex (ASX:AMX) - Managing Director, Mark Deuter
Managing Director, Mark Deuter
Source: The Advertiser
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  • Aerial mapping company Aerometrex (AMX) has completed its due diligence to purchase Spookfish Australia and will continue with the deal
  • This new purchase will give it the opportunity to service additional industry sectors, cross-sell additional products and gaining an ally in the U.S. market
  • The deal is expected to be completed by the end of the month
  • On market close, Aerometrex is down 5.78 per cent and is selling shares for $1.55 each

Aerial mapping company Aerometrex (AMX) has completed its due diligence to purchase Spookfish Australia and will continue with the deal.

Last month, Aerometrex announced it will buy its rival company for $1.5 million.

In 2018, Spookfish was bought out by U.S. major shareholder EagleView for over $130 million. This price might should alarming but Managing Director Mark Deuter explained the company has purchased only one of the several divisions of Spookfish.

The deal is expected to be completed by the end of the month.

Aerometrex says the deal will give it the opportunity to service additional industry sectors, cross-sell additional products and gaining an ally in the U.S. market.

The deal will also absorb a competitor and increasing the company’s market share.

We are very pleased with the successful completion of the due diligence process including the support and engagement provided by the EagleView team during this time,” Mark said.

“We look forward to welcoming these clients across into MetroMap following settlement, he added.

On market close, Aerometrex is down 5.78 per cent and is selling shares for $1.55 each.

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