Aktieanalys

MapsPeople (One-pager): The investment case after going private

In late April, MapsPeople announced that Apex Group Technologies, backed by Round13 Capital, is acquiring at least 51% and up to approx. 64% of the MapsPeople shares, and there is support to delist MapsPeople from Nasdaq First North Premier.

Shareholders in MapsPeople may choose to remain invested after the delisting, however, Apex Group Technologies has, as part of the transaction, committed to offer shareholders to sell at a price of approx. DKK 0.73 per share (limited to a total purchase of approx. DKK 13.7m).

We have updated our investment case one-pager following the news, which provides perspectives on both key investment reasons and risks to be aware of when the company is going private.

Yesterday, we hosted an online live event with MapsPeople’s management, who presented the Q1 2025 results as well as information about the expected delisting in early August 2025. Watch the management presentation and Q&A session here: https://www.inderes.dk/videos/mapspeople-presentation-of-q1-2025-report

Disclaimer: HC Andersen Capital receives payment from MapsPeople for a Digital IR subscription agreement. /Kasper Lihn 10:45, 22 May 2025.

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MapsPeople is a Software-as-a-Service (SaaS) company focusing on digital mapping for indoor navigation. The two primary revenue streams are 1) MapsIndoors which is MapsPeople’s own developed mapping solution for indoor navigation 2) Google Maps partnership with Google. MapsIndoors is the key segment with high double-digit growth rates, and the Google Maps segment is expected to be a more steady business going forward. MapsPeople has a global presence with offices in Denmark, Germany, Singapore and United States, and customers include some of the largest brands in the world. The company has been listed at Nasdaq First North Premier in Denmark since June 2021.

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