Veris has announced that it has entered into an agreement to acquire 100% of Spatial Vision, in a cash and scrip deal valued at up to $3 million.

“We are thrilled to welcome the Spatial Vision team into the Veris family,” said Michael Shirley, MD and CEO of Veris.

“This acquisition is a strategic step forward in our strategy to provide unparalleled digital solutions, consulting and advisory services.

“By integrating Spatial Vision’s spatial and GIS capabilities with our existing expertise and skillsets we are set to deliver even greater value to our clients and drive innovation in the delivery of spatial data-based digital solutions.”

In a statement released to the ASX, Veris said the acquisition “provides the opportunity for Veris to realise significant synergies, particularly in the realm of digital solutions,” given that each company has “robust GIS service offerings that, when integrated, will enhance the overall service portfolio”.

The company added that the “operational and financial synergies of this acquisition are expected to be significant”.

The parties expect the transaction to be completed by early March 2025.

“The acquisition aligns perfectly with our digital strategy,” said Shirley, adding that “Spatial Vision’s established relationships with local, state and federal government agencies will open new avenues for collaboration and growth”.

“We welcome the ongoing commitment of Ian, Stephen and John as founders of Spatial Vision and their team to our group.”

Veris describes itself as a “fully integrated digital advisory and consulting firm” that provides “end-to-end spatial data and digital solutions” nationally for sectors such as transportation, property, energy and resources, defence, utilities and government.

Melbourne-based Spatial Vision was founded in 1999 and has grown to encompass around 40 staff and annual revenue of more than $9 million. It provides spatial, GIS and application development services to private- and public-sector clients within fields such as agriculture, fisheries, natural resources management and climate change.