08/08/2016 - 10:15

Otoc buys Olson's WKC Spatial

08/08/2016 - 10:15

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OTOC has expanded its surveying portfolio with the acquisition of local company WKC Spatial for $1.9 million.

Otoc buys Olson's WKC Spatial
Ian Olson has sold his WKC Spatial business to Otoc for $1.9 million.

OTOC has expanded its surveying portfolio with the acquisition of local company WKC Spatial for $1.9 million.

WKC, which is owned by Pointerra boss Ian Olson, provides surveying and geospatial services for pipeline infrastructure, construction, engineering, land and cadastral projects.

The company will be integrated with Otoc’s Western Australian surveying business, Whelans.

“The acquisition of WKC provides Otoc with valuable geospatial skill sets, backed by WKC’s 30-year reputation and blue-chip client base,” Otoc chief executive Simon Thomas said.

“In addition, the combination of Whelans and WKC creates a stronger operating platform and broader revenue base for the Western Australian surveying business.”

He said the company hoped to make further acquisitions of this type as Otoc sought to expand its national surveying strategy.

“WKC represents the first bolt-on acquisition opportunity for Otoc and was identified to bring new service capacities and geographic market presence into our national surveying business,” Mr Thomas said.

In late June, Otoc purchased Sydney-based Lawrence Group, a surveying consultancy business, for $5.85 million in cash and shares.

Otoc shares were unchanged at 30.5 cents each at 10am.

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