The disposal was triggered by a strategic review that determined that Sanborn's primary business of the aerial acquisition of geospatial images was non-core to DMGI. In addition, trading conditions for Sanborn have been weak and are likely to continue to be so for the foreseeable future, as US government budgets remain tight. DMGI will maintain an interest in Sanborn, retaining some upside potential when the cyclicality of the marketplace returns.
The adjusted operating profits of Sanborn in the last year to 3rd October, 2010 (before amortisation and impairment charges) were £0.5 million on revenues of £23 million.
