Thomson Geer has advised Australian digital safety and student wellbeing solutions provider Qoria Ltd (ASX:QOR) on its acquisition of data analytics innovator OctopusBI and a A$30 million capital raising.

Qoria is acquiring OctopusBI for A$5 million cash and performance rights subject to financial targets being met.

The acquisition of OctopusBI will enable Qoria to add premium data analytics and AI capability into its existing technology platforms.

OctopusBI has established a suite of technology offerings from kindergarten to Year 12 (K-12) with an established customer base in Australia, the US and the UK. In the US alone, the K-12 education data analytics market is projected to grow to between US$5 billion to US$7 billion by 2026.

Thomson Geer advised Qoria on all aspects of the acquisition and capital raising, including the acquisition agreement and regulatory requirements.

The Thomson Geer team was led by Partner Hedley Roost, who said: "We're pleased to be able to advise valued client, Qoria, on its latest moves to strengthen and grow the company. We look forward to seeing it continue to develop its technology aimed at improving digital safety for children."

Hedley was supported by Senior Associate Lawrence Ward.

The acquisition of OctopusBI will be partly funded from the proceeds of the capital raising.

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