February 20, 2007 / 9:22 PM / 12 years ago

MapInfo acquires Graphical Data Capture

Co announces it has acquired privately-held Graphical Data Capture. GDC develops applications and offers consulting services primarily to local and regional UK govt authorities, in addition to utilities, financial services and insurance cos. Under the terms of the transaction, the purchase price was approx $12.7 mln, subject to a working capital adjustment. As part of the transaction, MapInfo will acquire approx $2.9 mln. MapInfo expects the acquisition to contribute approx $4 mln in revs for the remainder of its fiscal year ending Sept 30, 2007. From a profitability perspective, GDC is expected to be neutral to the co’s earnings per share on a full year fiscal 2007 basis, including non-cash amortization of intangibles expense of approx $0.6 mln. The transaction is expected to have a positive impact on MapInfo’s cash from operations in fiscal 2007, while it is expected to be accretive from a reported earnings per share perspective in fiscal 2008.

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