Ikigai Ventures (LSE: IKIV), the London-listed special purpose acquisition company, has agreed conditional terms to acquire Dotlines Global and Audra Solutions in a deal worth about £67 million.
The proposed acquisition, which remains subject to due diligence and a definitive share purchase agreement, would be satisfied through the issue of new Ikigai shares.
Following completion, the company plans to seek admission of its enlarged share capital to AIM, the London Stock Exchange’s market for growth companies.
The target group is a vertically integrated technology business operating across the UK and Southeast Asia, with offices in London, Singapore and Malaysia.
Its operations span digital infrastructure, cybersecurity and fintech.
Dotlines has developed a suite of proprietary platforms, including Sohoj, a digital lifestyle platform for migrant communities; Catena, an AI-powered system for telecom operators; and Audra, a plug-and-play cloud security device for homes and SMEs.
It also owns Carnival Internet, a UK-based full-fibre broadband provider launched this year, and a digital engagement division serving fintech and telecom partners.
For the year to December 31 2024, the group reported unaudited pro forma revenues of £22 million and EBITDA of £1.7 million.
Chief executive Kane Black said the deal brought together “an innovative and fast-growing technology group” whose platforms enhanced connectivity and security in underserved markets.