Veris Accelerates Digital Pivot with $3M Spatial Vision Acquisition

Strategic Expansion into Digital and Spatial Services

Veris Limited (ASX: VRS) has taken a decisive step in its ongoing transformation towards a fully integrated digital advisory and consulting firm with the acquisition of Spatial Vision Innovations Pty Ltd. The Melbourne-based spatial solutions provider, founded in 1999, brings a robust portfolio of GIS services and spatial data expertise that complements Veris’ existing capabilities.

Spatial Vision’s annualised revenue exceeds $9 million, supported by a team of approximately 40 professionals. Its client base spans government and private sectors, with a strong emphasis on environmental, climate change, agriculture, and natural resource management projects. This acquisition is expected to significantly bolster Veris’ digital solutions and advisory offerings, particularly enhancing its footprint across local, state, and federal government agencies in Victoria, New South Wales, Queensland, and Western Australia.

Financial and Operational Synergies

The transaction, valued at up to $3 million on an enterprise and debt-free basis, involves a mix of cash and scrip consideration. Veris will pay $1.5 million in cash and issue $0.5 million in shares at settlement, with additional milestone payments contingent on performance targets in FY26 and FY27. These milestones include continued employment of key Spatial Vision personnel and achieving a minimum $9 million work procurement within Veris.

Veris anticipates the acquisition to be earnings accretive from FY26, driven by operational synergies and the integration of complementary digital and GIS capabilities. The combined expertise is expected to accelerate product innovation and deliver enhanced value-added insights to clients, streamlining development and implementation processes.

Strategic Alignment and Market Positioning

Dr Michael Shirley, Managing Director and CEO of Veris, highlighted the strategic importance of the acquisition, noting that Spatial Vision’s established government relationships and specialised skillsets align perfectly with Veris’ digital transformation strategy. The deal not only broadens Veris’ service offering but also opens new avenues for earlier-stage advisory engagements and consulting opportunities across a diversified client base.

Spatial Vision’s founder-led culture and commitment to innovation are expected to integrate smoothly with Veris’ national presence and growth ambitions. The acquisition reinforces Veris’ position as a leading provider of spatial data-driven digital solutions, catering to complex industry and government needs.

Looking Ahead

Completion of the acquisition is subject to customary conditions precedent, including third-party approvals and employment agreements, with closure anticipated by early March 2025. Veris shareholders are not required to approve the transaction, which will be funded through existing cash reserves and operating cash flows.

As Veris continues to pivot towards integrated digital advisory services, the Spatial Vision acquisition marks a pivotal milestone in its growth trajectory, promising enhanced capabilities and expanded market reach.