EagleView Technologies, a provider of automated 3-D measurement technologies and analysis solutions, and Pictometry International, a provider of geo-referenced aerial image capture and visual-centric data analytics, jointly announced that they have entered into a definitive merger agreement under which EagleView and Pictometry have combined their businesses into a single entity.
The merger creates a global leader providing unparalleled geo-referenced aerial imagery and analytical software solutions servicing government and commercial customers. The new entity will offer comprehensive and robust capabilities in aerial imagery collections, geospatial analytics and 3-D measurement technologies. A more diversified revenue base, greater financial resources, advanced product capabilities and significant growth opportunities will reach across current industry segments, including local and regional government, insurance, energy and utilities and construction, as well as additional verticals.
Chris Barrow, EagleView’s chief executive officer, will lead the management team of the combined company as its president and chief executive officer, while Pictometry’s chief executive officer, Rick Hurwitz, will exit the business having worked closely with both companies in support of this transaction. This fulfills his vision to develop Pictometry into an end-to-end solutions provider that derives actionable information from aerial images. The management team of the new company will draw on a talented group of executive leaders from both companies with the six-member board of directors comprised of three EagleView directors and three Pictometry directors. The company will operate with offices in Bothell, Wash., and Rochester, N.Y., while maintaining satellite offices in other locations.
The two companies have combined pro forma revenues of more than $100 million for calendar year 2012 and have experienced significant historical growth. Given the highly complementary nature of each respective business, the new company expects the integration process to be seamless for customers, as well as the vast majority of the employees of both companies.