Appen Limited Acquires Quadrant to Expand Mobile Location and POI Data Offering

Appen Limited has signed a definitive agreement to acquire 100% of Quadrant, a provider of mobile location, point-of-interest (POI) data, and compliance services. The deal includes an upfront cash payment of US$25 million and up to US$20 million in Appen shares contingent on revenue milestones, and is intended to expand Appen's addressable market and capabilities in location-based data.