Veris Limited Acquires Spatial Vision to Expand Digital Service Offering

Veris Limited (ASX: VRS), a leader in digital and spatial data consulting, has announced its acquisition of Spatial Vision Innovations Pty Ltd for up to $3.0 million. This move aligns with Veris' (ASX: VRS) strategic objective to strengthen its digital transformation capabilities while expanding its client reach across government and private sectors.

About the Acquisition

• Enterprise Value: Up to $3.0 million, with payments structured in cash and Veris (ASX: VRS) shares.
• Completion Timeline: Expected by March 2025, pending customary conditions.
• Funding: Through Veris' (ASX: VRS) existing cash reserves and operating cash flows.

Spatial Vision, a Melbourne-based geospatial solutions provider, specializes in GIS services, application development, and spatial consulting. With an annual revenue exceeding $9 million, its core client base includes local, state, and federal government agencies, as well as private sector leaders in agriculture, climate change, and natural resource management.

Key Benefits for Veris

• Enhanced Capabilities: Spatial Vision’s GIS expertise complements Veris’ (ASX: VRS) existing digital and spatial solutions.
• Broader Client Reach: Expands Veris’ (ASX: VRS) footprint across Australia, strengthening ties with government agencies.
• Financial Synergies: The acquisition is expected to be earnings accretive from FY26, with cost savings identified in integration processes.
• Stronger Market Position: Combines Veris’ (ASX: VRS) national presence with Spatial Vision’s localized relationships, creating a powerhouse in digital advisory services.

Dr. Michael Shirley, Managing Director of Veris (ASX: VRS), stated, “This acquisition represents a significant step forward in our digital strategy. Spatial Vision’s capabilities, combined with Veris’ expertise, will allow us to deliver unparalleled value to our clients. Together, we aim to lead innovation in spatial data-based solutions.”

Transaction Details

• Initial Consideration: $1.5 million in cash and $0.5 million in Veris (ASX: VRS) shares (subject to a 12-month escrow).
• Milestone Payments: Up to $1.0 million tied to FY26 and FY27 performance hurdles.

The acquisition aligns with Veris’ (ASX: VRS) strategy to deliver bespoke, end-to-end spatial solutions tailored to the digital transformation needs of its clients. By leveraging Spatial Vision’s expertise, Veris (ASX: VRS) will unlock new growth opportunities in early-stage advisory roles and value-driven insights for large-scale data projects.

About Veris Limited

Veris Limited (ASX: VRS) is an ASX-listed digital consulting firm offering spatial data collection, hosting, and analytics services. With a national presence, it serves sectors such as transport, energy, defense, and government, helping clients unlock the potential of digital transformation through advanced spatial solutions.

Investor Takeaway

The acquisition of Spatial Vision marks a significant milestone for Veris (ASX: VRS), reinforcing its commitment to innovation in spatial data and GIS services. This strategic move positions Veris (ASX: VRS) as a leading player in Australia’s digital advisory landscape, with a strong focus on delivering value-driven solutions for government and private sectors.