1Spatial Holdings, formerly known as 1Spatial, has listed on AIM following a reverse takeover by IQ Holdings earlier this month.

1Spatial board members replaced the board members of IQ this month and the new company was renamed 1Spatial Holdings.

Nic Snape, chief executive of 1Spatial Holdings, said the firm had been considering a move to AIM for some time.

“This reversal offered the perfect opportunity to come to the market,” he said. “We have a solid business with a solid foundation and a proven financial track record.”

IQ Holdings was formerly a cash shell company. In February this year the company disposed of its two trading businesses, Rosslyn Research and Viewpoint Field Services and in April raised £150,000 through a share placing before making the reverse takeover.

1Spatial Holdings will continue to be a provider of intelligent, automated, data quality and integration platforms for organisations worldwide that need to trust their location-based information.

The firm will also continue to look to expand in Australia and New Zealand under its new managing director for Asia-Pacific, Guy Perkins.