LEADING AI technology company GoldSpot Discoveries Corp has continued its aggressive acquisition spree, picking up its fourth company in six months.
Digital mapping and intelligence database company DigiGeoData is GoldSpot’s latest acquisition, with the latter paying C$4 million in cash and shares for Alberta-based DigiGeoData. The deal followed on from GoldSpot’s buyout last August of Ridgeline Exploration Services for just under C$2 million in cash and shares, followed by the C$17 million cash-and-shares purchase of investment and social network, CEO.ca, and then Geotic, a geological and geophysical modelling software provider, for C$2.5 million in cash and shares.
GoldSpot expects the transactions will help it use artificial intelligence to “revolutionise the future of global mineral exploration with a full suite of data and knowledge-driven SaaS [software as a service] tools and services”. The Canadian-based company’s market capitalisation at the start of February was C$140.5 million.
“We will be working with DigiGeoData to accelerate their initial offering with innovative and interactive mapping interfaces, providing never-before-seen layers of claims and technical data that will integrate within our asset portfolio,” GoldSpot executive chairman and president Denis Laviolette said.
“We strongly believe the Atlas platform will become an industry staple alongside the addition of new visual data layers to ceo.ca. From senior producers to junior retail, the newly built platform will take decision making within the exploration space to a whole new level.”
DigiGeoData’s Atlas platform is a SaaS-based online GIS interactive mapping interface that spatially links and displays data from its maps and data platforms. Atlas is offered as a subscription service with claim data, 43-101 reports, property and assets, and geological layers.