MapsPeople expands global presence with new sales hub for APAC

New office in Singapore


Company Announcement No. 6-2022- Inside Information

MapsPeople expands global presence with a new office in Singapore 

In line with the overall strategy, MapsPeople is expanding its international business with a new subsidiary and office in Singapore. The office will serve as the hub office for Asia-Pacific (APAC), and by 2023, the organization is expected to cover all business-critical functions.

"We are experiencing a growing interest in APAC from our customers and partners, and we see great potential in the realization of our market expansion by establishing an office in Singapore. Our experiences from both Denmark, Germany and the USA show us that the local presence in the region is crucial for an in-depth knowledge of the markets and for success," says Michael Gram, CEO of MapsPeople.

The expansion in Singapore will contribute to this year's overall growth target of more than 100%, primarily through new partnerships around MapsIndoors - platform for indoor mapping. The Singapore office is established as a fully equipped office with staff functions in sales, technical sales support and project management. The office's activities are aimed at both new and existing international customers.

MapsPeople already operates in several industries in APAC, including Corporate Offices, universities and sports arenas, and has also built strategic alliances with a number of partners.

This announcement does not affect ARR guidance (company announcement no. 1-2022), which remains at DKK 75-85M for 2022.

Download company announcement (pdf) >


MapsPeople A/S
Michael Gram, CEO
Mobile (+45) 53 74 09 00
Stigsborgvej 60, 9400 Nørresundby

Certified Advisor
Grant Thornton
Jesper Skaarup Vestergaard
Mobile (+45) 31 79 90 00
Grant Thornton Stockholmsgade 45 2100 Copenhagen Ø Denmark


This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.

This announcement does not constitute an offering circular, Prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople A/S except on the basis of information in the company description published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Growth Market Denmark ("First North"), which is available on the Company's website.

Neither the existing shares of MapsPeople A/S nor the Offer Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("Securities Act"). Neither the existing shares nor the Offer Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures. Any application to subscribe for the Offer Shares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions. Any failure to comply with the restrictions described may result in a violation of securities regulations.

Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.,c3555405