NV5 Completes the Acquisition of L3Harris Subscription-Based Geospatial Software Business
April 10 2023 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of technology, conformity assessment,
and consulting solutions, announced today the closing of its
acquisition of L3Harris Technologies, Inc.’s Visual Information
Solutions commercial geospatial technology and software business
(“VIS”). First announced in December, the acquisition
has received regulatory approvals and enhances NV5’s position as
North America’s premiere provider of geospatial data solutions,
accompanying the acquisition of Axim Geospatial completed earlier
this year.
“This acquisition supports NV5’s expansion in a
subscription-based geospatial product and service model and
strengthens our role in supporting the nation’s defense and
intelligence communities through geospatial information management
and analytics,” said Dickerson Wright, PE, Chairman and CEO of NV5.
“As the only provider of software solutions to analyze over 200
geospatial data types and comprehensive in-house LiDAR,
topobathymetric LiDAR, and full ocean depth sonar capabilities, NV5
has built a distinct competitive advantage and robust platform to
support accelerated organic growth.”
The VIS acquisition includes 16 U.S. Patents for geospatial data
analytics. NV5 will also receive ownership of an additional 13 U.S.
and non-U.S. Trademark Registrations for leading geospatial
software applications with approximately 500,000 global users.
These software products include prominent applications such as
ENVI, IDL, Jagwire, Amplify, and Helios, which are relied upon by
the United States Department of Defense and federal civilian
agencies for the analysis and management of geospatial data.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of technology, conformity assessment, and consulting
solutions for public and private sector clients supporting
sustainable infrastructure, utility, and building assets and
systems. The Company focuses on multiple verticals: testing,
inspection & consulting, infrastructure engineering, utility
services, buildings & owner representation, environmental
health sciences, and geospatial technology services to deliver
innovative, sustainable solutions to complex issues and improve
lives in our communities. NV5 operates out of more than 100 offices
nationwide and abroad. For additional information, please visit the
Company’s website at www.NV5.com. Also visit the Company
on LinkedIn, Twitter, Facebook,
and Instagram.
Forward-Looking StatementsThis press release
contains “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. The Company cautions that these
statements are qualified by important factors that could cause
actual results to differ materially from those reflected by the
forward-looking statements contained in this news release. Such
factors include: (a) changes in demand from the local and state
government and private clients that we serve; (b) general economic
conditions, nationally and globally, and their effect on the market
for our services; (c) competitive pressures and trends in our
industry and our ability to successfully compete with our
competitors; (d) changes in laws, regulations, or policies; and (e)
the “Risk Factors” set forth in the Company’s most
recent SEC filings. All forward-looking statements are
based on information available to the Company on the date hereof,
and the Company assumes no obligation to update such statements,
except as required by law.
Investor Relations Contact
NV5 Global, Inc.Jack CochranVice President, Marketing &
Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com
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