Data firm changes name to fit new direction
- Credit: Nick Butcher
A Norwich-based data intelligence company has completed a change of name after shareholders voted the motion through at its annual general meeting.
Location Sciences Group is the new name for the firm formerly known as Proxama as the business continues to go through a period of transformation.
The company has moved both its London and Norwich offices to smaller sites and reduced headcount from 60 to 16 in an attempt to lower costs as it focuses on providing location data intelligence to advertisers, having sold its digital payments division.
In a statement ahead of the AGM non-executive chairman Kelvin Harrison said: 'We are well placed to pursue our new strategy, focused on the rapidly growing location data market and I am pleased to report that we are trading in line with management expectations.'
The group also announced the appointment of Benjamin Chilcott as a non-executive director.