The board of aerial photographer Spookfish has recommended shareholders vote in favour of a $122 million takeover offer from US shareholder EagleView Technologies.

The takeover offer is priced at 8c.

The stock jumped more than 50 per cent to match the offer price.

It’s traded between 3.6c and 9.8c over the past year, but had lost close to 45 per cent before the takeover announcement.

Spookfish (ASX:SFI) listed on the ASX in 2015, raising $5 million at an issue price of 3.5c.

Spookfish’s product suite includes a range of aerial imaging services like SiteView, with key clients those in the government, developer and enterprise spaces.

Privately-hled EagleView already has a 10 per cent stake in the business and worked with Spookfish on developing its products for the US.

When investors were informed of the bid on Thursday, the buyout offer was a 59 per cent premium to the share price.

The deal is subject to a shareholder vote and Foreign Investment Review Board approval.

Management advised investors on Thursday to vote in favour or the arrangement, saying it presented a solid opportunity for investors to realise their holdings in cash.

“The recommended acquisition of Spookfish by EagleView represents an excellent outcome for our shareholders and staff,” Spookfish chairman Jason Marinko said.