NV5 Global announced that it has entered into a definitive purchase agreement to acquire L3Harris Technologies’ Visual Information Solutions commercial geospatial technology and software business.
This acquisition expands NV5’s position as a leading provider of subscription-based software products for geospatial data analysis and management.
The acquisition is an all-cash transaction and will be reflected in NV5’s earnings immediately. Closing is subject to regulatory approvals, which he currently expects to take place in the first half of 2023.
Founded in 1977, VIS employs 150 people through proprietary software applications such as ENVI and SARscape, the world’s leading software platforms for analyzing hyperspectral and satellite-based radar data. , provides mission-critical commercial geospatial solutions.
Through this transaction, NV5 will receive 16 US patents in geospatial data analysis, image processing, real-time weather monitoring and situational awareness. NV5 also trademarks ENVI, IDL, Jagwire, Amplify and Helios software applications. This includes 13 US and non-US trademark registrations.
The proprietary software applications and analytics-as-a-service (AaaS) solutions we have acquired are routinely relied upon not only by the US Department of Defense, but also by federal civilian agencies such as NASA, NOAA, and USGS.
Proprietary software applications are compatible with over 200 LiDAR, image processing and satellite data types, supporting approximately 500,000 global users.
“This acquisition strengthens our position as the leading U.S. provider of geospatial data solutions and expands NV5’s suite of subscription-based commercial geospatial software applications. Dickerson Wright, PE, Chairman and CEO of NV5.
“This business aligns well with NV5’s existing geospatial sector focus. The majority of revenues from the acquired businesses will come from the public sector, including environmental and defense, utilities, energy, infrastructure and healthcare. It comes from sectors historically unaffected by interest rate movements,” he added.