NV5 Global (Nasdaq: NVEE) is acquisition commercial geospatial technology and software business L3 Harris Technologies (NYSE: LHX).
The all-cash transaction of L3Harris’ visual information solutions business is subject to regulatory approval and is expected to close in the first half of 2023, NV5 said on Thursday.
Founded in 1977, VIS employs approximately 150 people and provides software applications and analytics services-as-a-service used by the Department of Defense and federal civilian agencies to analyze hyperspectral and satellite-based radar data. It offers.
Based in Florida, NV5 provides technical, conformity assessment, and consulting support to public and private sector customers. VIS holds 16 US patents for geospatial data analysis, real-time weather monitoring, image processing, situational awareness, and software application trademarks. ENVI, Helios, Amplify, IDL, Jagwire, etc.
NV5 Chairman and CEO Dickerson Wright said the deal strengthens its presence in the geospatial data market and expands its portfolio of subscription-based geospatial applications.
“In 2023, we anticipate enhanced cross-selling opportunities between businesses and current NV5 platforms,” added Wright.
Based in Florida, NV5 provides technical, conformity assessment, and consulting support to public and private sector customers.
L3 Harris Said The sale is expected to generate a profit of up to $100 million. This is in line with the company’s strategy to further optimize its portfolio and align long-term investments across its government-wide multi-domain His platform and national security priorities.
News of the pending VIS sale was reported by L3Harris at Acquired Aerojet Rocketdyne (NYSE: AJRD) received regulatory approval to move forward purchase of Biasat(Nasdaq: VSAT) Tactical Data Link Portfolio, Link 16.
