Location Analytics company PlaceIQ sold to Japanese firm in deal worth up to $300M

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PlaceIQ, is moving to a new home after publicly listed Japanese business Uzabase acquired it in a deal worth up to $300 million.
The deal is expected to close within a month. PlaceIQ said it won’t be making layoffs and it will maintain its brand and existing leadership team. Duncan McCall will be reporting to Uzabase and founder and CEO Yusuke Umeda.

The deal forms part of a strategy Uzabase is entering into the ad-tech business, by diversifying into the analytics game. The acquisition has surprised many with Uzabase hardly a household name. Despite that, though, it has a credible track record as a company. Uzabase went public on the Tokyo Stock Exchange in 2016 and its current market cap is around $870 million. Its services include a business intelligence platform, a b2b marketing platform and, in the consumer space, a news app called NewsPicks.

“While high-quality advertising will continue to represent the lion’s share of PlaceIQ's revenue in the coming years, we expect that the biggest source of growth in PlaceIQ’s next chapter will come from revenue from the publishing arm of Uzbase,” McCall added.

There is some precedent for acquisitions of notable U.S. tech companies by Japanese suitors. Back in 2015, The Nikkei bought the Financial Times for $1.3 billion in another unexpected piece of media M&A, while more recently job hunting service Glassdoor was bought by Japan’s Recruit for $1.2 billion.

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