Locafy to Acquire Map Labs' Assets, Expanding Revenue and U.S. Customer Base
LCFY sits 17% above its 52-week low of $2.103.
Summary
Locafy announced it will acquire Map Labs' assets for cash consideration of $2M payable at settlement on Dec. 31, 2026, with up to $1M contingent on 2027 and 2028 revenue targets of $3.85M and $4.76M, a deal that significantly expands its revenue and U.S. customer base. The acquisition adds new technology and clients, strengthening Locafy's position in the local search and mapping space. This follows the company's $100M shelf registration filed in August, suggesting ongoing capital needs. The deal is material for a company with a market cap around $4.2M, and traders will want details on the purchase price and financing.
Updated with an SEC 6-K filing · What changed
Updates
· SEC 6-K — The Business Sale and Purchase Deed sets $2M payable at settlement on Dec. 31, 2026, with up to $1M contingent on 2027 and 2028 revenue targets of $3.85M and $4.76M.
At the time of this announcement, LCFY was trading at $2.47 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.2M. The 52-week trading range was $2.10 to $7.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.