GB Group PLC
About the Client
Founded in 2009 and headquartered in San Mateo, Loqate is a leading provider of specialist location software and data enabling clients to capture, verify and geocode any address worldwide. Loqate’s global location intelligence platform powers a significant proportion of the world’s data quality tools through partners including Oracle, IBM, Pitney Bowes and Software AG, as well as supporting data solutions in the rapidly expanding Location-Based Service and Identity Verification sectors.
About the Deal
GP Bullhound acted as the exclusive financial advisor to Loqate Inc. (“Loqate”) on the sale to GB Group PLC (AIM: GBG) (“GBG”).
This represents the completion of GP Bullhound’s fifth transaction in 2015 and further demonstrates the firm’s commitment to working with category leading businesses in the Enterprise software and Data Analytics sectors.
Martin Turvey, co-founder and CEO of Loqate commented: “Our acquisition by GBG allows us to extend the positive relationship we already enjoy and to offer an exciting new range of identity-based products and services to our existing customers, as well as to new international markets. We really enjoyed working with GP Bullhound throughout this process. Their impressive global reach, execution skills and support proved invaluable in delivering this transaction for us. ”
Commenting on the acquisition, Richard Law, CEO of GBG, said: “As an investor in Loqate over the last four years we have seen the business grow quickly and establish first class reseller relationships with blue chip partners. Our expectation is that the business will continue to grow and that the customer base will provide further opportunities for the cross sell of GBG products and services. The acquisition also gives GB Group a strategic footprint in Silicon Valley from which to market and sell our growing portfolio of products and services into mainland USA and Canada.”
GP Bullhound Director Alexis Scorer commented: “We are delighted to have successfully delivered this transaction for Loqate. With data solutions such as Location Intelligence becoming increasingly critical to a growing range of Enterprise and Consumer applications, we see significant growth opportunities for companies like Loqate that are able to combine unique domain expertise with market leading technology.”
Alec Dafferner, Head of GP Bullhound’s San Francisco office, says: “This transaction demonstrates the continued momentum of our US franchise, highlighting our global buyer relationships and cross-border advisory capabilities.”