Ikigai Ventures Limited (AIM:DOTL) has agreed to acquire the entire issued share capital of Dotlines (Guernsey) Ltd and Audra Solutions Ltd for a total consideration of £55.7 million, payable entirely by the issue of 585,342,816 Consideration Shares on admission.
The Enlarged Group will trade at an issue price of 9.5p per share, implying an approximate market capitalisation of £57.9 million on admission. The transaction transforms the cash shell into an operating technology group spanning telecoms, digital content, cybersecurity and fintech, and the company intends to change its name to Dotlines Global Limited and trade under ticker DOTL.
The Dotlines Group reported its digital content division grew revenue to £20.5m in 2024 (PBT £1.0m) and recorded £10.2m revenue in H1 2025; its telecoms division is early stage, delivering £97k revenue for year to 31 July 2025 and a £758k loss. The Sohoj Platform has served over a million migrants and entered a 2025 partnership with Touch 'n Go. Catena and Audra were launched into the UK in July 2025 and have contracts with three UK ISPs.
CEO Kane Black said: "We are delighted to have reached this key milestone in our acquisition of the Dotlines Group and admission to AIM. The Dotlines Group is well aligned with our strategy to acquire technology-enabled businesses with operating activities and experienced management teams, whilst also providing products and services that support customers in improving connectivity, security and access to digital services."
The EGM and shareholder approvals are required for the proposals; Admission is expected to become effective and dealings to commence on AIM at 8.00 a.m. on 11 May.
