Ubisense Group plc to sell its RTLS SmartSpace business unit to Investcorp Bank B.S.C.

Ubisense Group plc signed a conditional agreement to sell its RTLS SmartSpace business unit, including the Ubisense brand, to a company that is owned and controlled by funds managed or advised by Investcorp Technology Partners, an affiliate of Investcorp Bank B.S.C. for up to £35.0m. Ubisense Group plc will (assuming the Sale completes and becomes unconditional in all respects) be renamed IQGeo Group plc. Assuming completion of the transaction, IQGeo Group plc will be a focused and well-funded geospatial software company working with telecoms and utilities companies worldwide. Following completion of the Sale of the RTLS SmartSpace business, IQGeo will be a focused software company working exclusively with leading telecoms and utilities companies worldwide and the Board will be able to focus on the significant opportunities apparent in the communications and utility sectors for productivity enhancing open platform support for geospatial systems.