ASX-listed data company Appen announced that it has acquired Singapore-based mobile-location data firm Quadrant, while Australia-based Pacific Equity Partners (PEP) has launched bids for Intellihub with a deadline of September 27.
Appen buys Quadrant in cash and shares
ASX-listed data company Appen has acquired the Singapore-based mobile-location data firm Quadrant.
Appen will make an upfront cash payment of $25 million and issue up to $20 million of its shares when the firm hits specific revenue milestones in 2022 and 2023.
Founded in 1996 in Australia, Appen helps technology, automotive, financial services, retail, and healthcare companies, besides governments, to build AI systems at scale by providing training data.
Quadrant, founded in 2014, provides mobile location data, POI (point of interest) data, and corresponding compliance services for businesses, organisations, and innovators to build tailored solutions.
“The acquisition of Quadrant enables Appen to increase our addressable market and expand our product and service offering to our customers to include more mobile-location and POI (point of interest) data capabilities,” said Mark Brayan, CEO of Appen.
By tapping into Appen’s user base, Quadrant can scale up their Geolancer product, which can deliver accurate, up-to-date, and manually verifiable POI data.
PEP invites bids for Intellihub
Australia-based investment firm Pacific Equity Partners (PEP) has set a deadline of September 27 to bid for Intellihub, a metering and data intelligence provider, that could fetch A$3 billion (including debt), as per The Australian.
Credit Suisse and Barrenjoey Capital are understood to be running the investor search.
Intellihub operates under long-term contracts, servicing major energy retailers and consumers across Australia and New Zealand.
PEP invested in the business in 2018 in partnership with the Swiss smart metering company Landis+Gyr. This investment was made via PEP’s Secure Assets Fund.
PEP is a leading Australasian private equity firm. In addition to successfully managing five private equity LBO funds since its inception in 1998, the firm launched the PEP Secure Assets Fund in late 2017.
SAF targets control-based investments across a range of infrastructure sectors including energy, water, transport, health, education, and communications that possess a combination of protected cashflows and unrealised growth and performance improvement potential.