Ubisense acquires Cambridge neighbour, Realworld
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| The world according to Ubisense: The MyWorld geospatial product is a good fit with newly acquired Realworld |
Ubisense has acquired Realworld OO Systems for £2.4m, another geospatial specialist and like last week's purchase InMaps, another company highly familiar with the GE Smallworld suite of products.
It will pay its Dutch parent, Realworld Holding BV, £1.25m in cash up front and a further performance based £1.15m over the next two years.
Ubisense says Realworld is a UK leader in the provision of location solutions with a suite of products it has developed specifically for the telecoms industry, where it has a number of global blue-chip customers including Cable & Wireless and Global Crossing.
The company and its 20 employees occupy the same St Andrew's Road building Ubisense occupy, a stretch of property that itself has a strong history of radio having been home to godfather of the Cambridge Phenomenon, Pye, before it became Philips. Now Sepura and their portable radios, popular with the emergency services are there too.
In the year to 31 March 2011, Realworld had revenues of £2.8m and reported a net loss of £0.1m.
Ubisense says that the Realworld consultants' expertise will also provide additional resources to support the group's RTLS division's rapid growth.
Realworld has developed the capability to integrate geospatial applications into corporate IT systems to enable corporate enterprises to more effectively and efficiently manage their assets.
"This strategically important UK acquisition will expand and significantly improve our UK presence and brings additional skills for our UK operation, said Richard Green, Ubisense CEO, in a company statement.
