BOTHELL, Wash., and ROCHESTER, N.Y. – EagleView Technologies, best known for providing 3D roof measurement and analysis based on aerial imagery, and Pictometry International, a provider of geo-referenced aerial image capture and visual-centric data analytics, announced this week they have entered into a merger agreement, which results in a single new company.
EagleView and Pictomery are now wholly owned subsidiaries of the new entity. The former shareholders of EagleView and Pictometry will each hold approximately 50 percent of the outstanding capital stock of the combined company on a fully-diluted basis.
Combined, the two companies generated about $100m in revenue in 2012.
The companies believe the “merger creates a global leader providing unparalleled geo-referenced aerial imagery and analytical software solutions servicing both government and commercial customers. The new entity will offer comprehensive and robust capabilities in aerial imagery collections, geospatial analytics and 3D measurement technologies.”
Growth opportunities, the press release said, include expansion into new verticals.
Chris Barrow, EagleView’s chief executive officer, will lead the the combined company as its president and chief executive officer, while Pictometry CEO Rick Hurwitz will exit the business. This merger, the press release said, “fulfills his vision to develop Pictometry into an end-to-end solutions provider that derives actionable information from aerial images.”
“In combining Pictometry’s world-class data and aerial image capture assets with EagleView’s remote measurement and analysis solutions,” Barrow said, “we are leveraging a portfolio of incredible technologies and world-class insights. This will create a compelling platform for continued strong growth and accelerating innovation. Now, with an even larger set of high-resolution imagery and unmatched data reports and services, we can offer more data, more compelling solutions and more value to our respective government and commercial clients, while also creating additional opportunities across multiple new market segments and geographic areas.”