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LONDON - Pri0r1ty Intelligence Group PLC (AIM:PR1) has entered into an agreement to acquire Halfspace Limited, a London-based sports data and marketing business, pending shareholder approval. The proposed acquisition, announced today, is part of Pri0r1ty’s strategy to deploy its artificial intelligence (AI) products into new sectors and drive growth.
Halfspace, established in 2018, specializes in data-driven marketing and technology services for the sports and entertainment sectors, boasting a clientele that includes Premier League football clubs and motorsports teams. The company has demonstrated consistent growth, with unaudited revenues of approximately £0.925 million for the financial year ending March 31, 2025, a significant increase from the previous year.
The acquisition is expected to provide Pri0r1ty with new revenue streams through Software-as-a-Service (SaaS), Data & Marketing Services, and Consultancy. It will also further the development and global roll-out of Capitano AI, a joint venture product between Pri0r1ty and Halfspace that simplifies customer interactions with large datasets through conversational queries.
Rory Maxwell, CEO of Halfspace, is set to join Pri0r1ty as Chief Operating Officer upon completion of the acquisition, bringing over two decades of sports industry experience to the company. James Sheehan, CEO of Pri0r1ty, expressed confidence that the acquisition will position the company as a leader in data and AI within the sports sector, which is projected to reach a value of $500 billion.
The terms of the acquisition include the issuance of up to 30,769,232 new ordinary shares in Pri0r1ty at an issue price of 2.5 pence per share. The initial consideration shares will account for half of the total shares issued, with the remaining contingent on Halfspace achieving certain revenue targets post-acquisition.
The completion of the acquisition is subject to certain conditions, including the approval of shareholders at a general meeting scheduled for June 30, 2025, and the admission of the initial consideration shares to AIM by July 31, 2025. The acquisition is deemed a "substantial transaction" under AIM Rule 12.
In the year ending March 31, 2025, Halfspace reported a profit before tax of £98,243 and had net liabilities of £667,674. Pri0r1ty has agreed to provide funds to Halfspace to settle outstanding liabilities as part of the acquisition agreement.
This move marks a strategic expansion for Pri0r1ty into the sports industry, leveraging Halfspace’s established market presence and expertise in data-driven marketing. The information for this article is based on a press release statement.
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