EagleView Technologies, a provider of automated 3D measurement technologies and analysis and Pictometry International, a geo-referenced aerial image capture and visual-centric data analytics company, jointly announced a merger agreement.
The merger creates one global company offering comprehensive capabilities in aerial imagery collections, geospatial analytics and 3D measurement technologies to both government and commercial customers. The company will operate with offices in Bothell, Wash. and Rochester, N.Y., while also maintaining satellite offices in other locations.
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.
The two companies have combined pro forma revenues of over $100 million for calendar year 2012 and have experienced significant historical growth.
Under the terms of the merger agreement, EagleView and Pictometry merged in a stock-for-stock merger-of-equals transaction pursuant to which both EagleView and Pictometry became wholly owned subsidiaries of a new entity.
Source: Eagleview Technologies and Pictometry
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