Veris Limited has completed the acquisition of Melbourne-based Mesh and a 50% stake in the Parsel digital platform, marking a strategic push into higher-margin digital advisory services.
- Acquisition of 100% of Mesh, a specialist urban planning consultancy
- 50% stake acquired in Parsel, a subscription-based digital development platform
- Deal valued at $1.55 million, paid partly in cash and shares under escrow
- Mesh expected to generate $6 million in annualised high-margin revenue
- Adds a 28-person team aligned with Veris’ innovation and client focus
Strategic Expansion into Digital Advisory
Veris Limited (ASX, VRS), a leader in digital and spatial data advisory, has taken a significant step to broaden its digital solutions portfolio with the acquisition of Mesh, a Melbourne-based urban planning and design consultancy. Alongside this, Veris secured a 50% stake in Mesh-Dash Holdings Pty Ltd, the developer behind Parsel, a proprietary subscription-based platform designed to streamline development planning processes.
This acquisition aligns closely with Veris’ ongoing strategy to shift towards higher-margin advisory services and scalable digital revenue streams. The integration of Mesh’s expertise in urban planning, infrastructure funding, and innovative design, combined with Parsel’s digital platform capabilities, is expected to enhance Veris’ service offering across both government and private sectors nationwide.
Financial and Operational Highlights
The total consideration for the acquisition was $1.55 million, comprising $0.83 million paid through the issuance of over 11.5 million new Veris shares subject to a 12-month escrow, and the remainder in cash. Mesh is anticipated to be earnings accretive from the first year, contributing approximately $6 million in annualised high-margin revenue. This addition not only boosts Veris’ financial profile but also brings in a talented 28-person team that shares the company’s client-centric and innovation-driven culture.
Parsel’s platform offers a scalable, recurring revenue model by digitising complex planning and infrastructure approvals, improving communication among developers, planners, and government agencies. This complements Veris’ digital growth ambitions and expands its footprint across Australian planning jurisdictions.
Looking Ahead
Veris’ Managing Director and CEO, Michael Shirley, emphasised the disciplined approach to capital deployment and the company’s readiness to pursue further mergers and acquisitions. The company remains focused on preserving cash reserves while actively evaluating opportunities that can enhance its value proposition and market presence.
With this acquisition, Veris strengthens its position in urban design and planning, reinforcing its multi-disciplinary advisory capabilities and deepening client relationships. The move signals a clear commitment to evolving alongside the digital transformation sweeping through the spatial data and planning sectors.
Bottom Line?
Veris’ acquisition of Mesh and Parsel stakes signals a decisive pivot to digital growth, setting the stage for further strategic moves.
Questions in the middle?
- How will Veris integrate Mesh’s team and culture to maximise synergies?
- What are the specific milestone payments and their potential impact on future earnings?
- Which additional M&A targets is Veris considering to further expand its digital advisory footprint?