IQGeo announces the acquisition of OSPInsight

December 01, 2020

IQGeo + OSPInsight

Cambridge, 01 December 2020 - IQGeo (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. 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 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 and software technology expertise, will enable IQGeo to service an expanded target market in existing and new geographies.

Richard Petti, CEO at IQGeo said. “The entire IQGeo team is very excited about the business and technology potential that will be created by the acquisition of OSPInsight. With more than 25 years of industry experience, they have developed an excellent product line and established an impressive list of customers, while building a very strong reputation in the telecoms industry. We see this as a fantastic opportunity that provides IQGeo with a proven software solution and sales channel for tier 3 and tier 4 network operators and it gives the OSPInsight team the global reach and financial resources needed to take their software to a wider audience.”

“The real winner in this acquisition will be OSPInsight customers,” explained Wade Anderson, CEO at OSPInsight. “Our customers will continue to enjoy the same level of support they’ve always had and have a greatly expanded product line for additional network management solutions. Existing and future OSPInsight customers will quickly have access to IQGeo’s industry-leading mobile software that digitizes field operations to improve network data quality and currency. The two product lines dovetail very nicely. I’m excited for the shared vision of providing world-class software that helps our telecoms customers transform their network operations. We can’t wait to get started.

You can learn more about the acquisition announcement see the FAQs below and visit the IQGeo Investor page to view a video interview with Richard Petti, IQGeo’s CEO and Haywood Chapman, IQGeo’s CFO.

 

Acquisition FAQs

1. What do current OSPInsight Customers need to know about IQGeo’s acquisition of OSPInsight International?

The most important thing you need to know is that the OSPInsight software you know and love will be the same and any corporate or organizational changes will be strengthening our team and offering. The industry leading software and support OSPInsight has been providing for over 25 years will be unchanged by this acquisition. Both OSPInsight and IQGeo products will continue to be supported and maintained.

We’re joining IQGeo because the combined organization will allow us to deliver more effectively on our mission to develop the world’s best fiber management software. The IQGeo award-winning field mobility platform and targeted applications bring extensive industry experience across the entire network lifecycle. In addition to the continued product excellence you can rely on from OSPInsight, you can also expect our same level of commitment to support and product enhancements into the future.

We are providing this FAQ page as a resource to answer your questions. Any questions that are not answered here, feel free to contact your Customer Success Manager or send us an email at support@ospinsight.com.

2. Why is OSPInsight joining IQGeo?

We’re joining IQGeo because the combined organization will allow us to deliver more effectively on our mission to develop the world’s best fiber management software. The IQGeo award-winning field mobility platform and targeted applications bring extensive industry experience across the entire network lifecycle. In addition to the continued product excellence you can rely on from OSPInsight, you can also expect our same level of commitment to support and product enhancements into the future.

3. What is the benefit for me as an OSPInsight customer?

The OSPInsight software you know and love is going to improve, the support resources are going to become more robust, and you’ll have more product solutions you can integrate into your fiber operations. Additionally, the same team members serving you today will continue to serve you.

4. Will OSPInsight be replaced by IQGeo's products?

No OSPInsight will remain a stand-alone product.

5. How will this affect my annual software renewals?

Your existing OSPInsight licensing and their current effective dates will not change. You will still work through your Customer Success Manager to renew these licenses on the same schedule you always have.

6. Will I continue to receive support for OSPInsight?

Absolutely! In fact, our team of OSPInsight experts will only get better with additional resources.

7. How will this affect OSPInsight product strategy?

We will continue to invest in OSPInsight Web and encourage our legacy customers to move to this version in 2021, much like we did in 2020. We will maintain our dedication on being GIS agnostic, including continuing to fully support ESRI and MapInfo. The addition of the IQGeo team and expertise will allow us to explore even more exciting product enhancements and strategies in the future.

8. I currently use OSPInsight for MapInfo. Will you continue to support MapInfo?

Yes, we will continue to support our MapInfo Product.

9. I currently use OSPInsight for ESRI ArcMap. Will you continue to support ArcMap?

Yes, we will continue to support our ESRI ArcMap Product.

10. Will OSPInsight Web9 still work with ESRI products?

Absolutely! If your company has embraced the ESRI ecosystem, be assured that the OSPInsight database can be accessed using ESRI applications. Nothing will change on this front and we want you to use what you feel most comfortable with.

11. What are the terms of the acquisition and how will it be funded?

IQGeo will pay $8.75m to acquire OSPInsight which will be funded through a mix of cash and shares. To pay for it IQGeo will be doing a fundraise which means our current cash position will not be affected by the acquisition.

12. Why is the acquisition beneficial for OSPInsight and IQGeo?

This acquisition is a very exciting opportunity that will have significant technical and business benefits for both organizations. IQGeo is now larger with a combined customer base, has a broader market reach and has an increased subscription revenue base. The technology and industry experience across both organizations will be shared and the OSPInsight team will benefit from the financial and operational support of IQGeo’s global infrastructure.

13. Will the OSPInsight management team move to IQGeo?

Yes. To ensure business and technical continuity the executive management of OSPInsight will take on senior roles within IQGeo.

14. Will the OSPInsight and IQGeo products be merged together?

Both the OSPInsight and IQGeo products will continue to be supported and maintained as separate software solutions serving two different market requirements. Naturally, the new organization will seek to take advantage of operational synergies particularly around R&D and domain knowledge. Additionally, IQGeo will be offering its mobile field software solution to OSPInsight customers.

15. How will the OSPInsight software products fit into the IQGeo product portfolio?

The OSPInsight products will be operated as a separate business to support existing customers and target new tier 3 and tier 4 regional telecoms network operators. As such the OSPInsight products will sit along-side the existing IQGeo enterprise software to provide solutions that match the unique requirements of both market areas. The OSPInsight products are perfectly suited to match the restricted budgets and IT resources of smaller network operators and IQGeo will invest in growing the market share for these products.

16. Will the OSPInsight company and product branding change?

The OSPInsight corporate and product brands will remain in place, leveraging the strong reputation established over 25-years of operation. The OSPInsight website will also continue to operate independently to service the fiber planning requirements of tier 3 and tier 4 network operators. To provide ownership transparency, the only immediate change to the OSPInsight corporate brand will be the addition of the phrase “an IQGeo company”.

17. How will the acquisition impact IQGeo customers and partners?

This acquisition will have a very positive impact on existing IQGeo customers and partners. Because the two product lines service different market requirements, smaller network operators will now have the flexibility to deploy the OSPInsight software if it is more appropriate for their technical and financial requirements. Larger network operators and existing partners can continue to use the enterprise IQGeo solutions. Over time, the sharing of industry and technical knowledge will act to improve the innovation and quality of all the products in the IQGeo portfolio.

18. How will the acquisition impact OSPInsight customers and partners?

This acquisition will have a very positive impact on OSPInsight customers and partners. The popular OSPInsight products will be supported and customers can be assured that their technology strategy can continue uninterrupted. In the medium-term OSPInsight customers will also be given the ability to purchase and deploy IQGeo’s award-winning mobile software to support field operations for staff and contractors, driving even greater transformation for their business. Customers and partners can be confident that their OSPInsight software is now part of a larger, global IQGeo organization that has a clear focus on the telecoms industry and a secure financial and operational foundation.

19. Who do I contact if I have questions about IQGeo’s acquisition of OSPInsight?

Please contact your Customer Success Manager or send us an email at support@ospinsight.com and we can direct your question to the appropriate person to provide a response.

 

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About IQGeo

IQGeo’s end-to-end geospatial software improves productivity and collaboration across enterprise planning, design, construction, maintenance and sales processes for telecoms and utility network operators. Our mobile-first enterprise solutions create and maintain, an accurate view of complex network assets that is easily accessible by anyone, wherever and whenever needed.

Specialized applications combined with our open IQGeo Platform help network operators create a single source of network truth to meet their digital transformation ambitions and operational KPIs. Our award-winning, cloud-enabled solutions save time and money, and improve safety and productivity, while enhancing customer satisfaction.

www.iqgeo.com

About OSPInsight International, Inc.

With over 25 years of experience, OSPInsight has created a platform to plan, design, build, and operate a better fiber optic network. Built by OSP engineers, OSPInsight, at its core, is built for streamlined fiber documentation. If you find yourself managing splicing in spreadsheets, struggling to piece together reports, or if it takes hours to track down a fault, OSPInsight's database driven solution can increase your team's efficiency and save you money. Whether it's faster troubleshooting to more detailed documentation, OSPInsight helps organizations globally to operate and analyze their key asset - fiber.

www.ospinsight.com

 

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IQGeo Acquisition FAQs | Current Customers

IQGeo Acquisition FAQs | Resellers

IQGeo Acquisition FAQs | Future Customers

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