Vexcel Imaging, a large aerial imagery, aerial camera and photogrammetry company company has expanded their reach in the aerial imagery market by coming to an agreement to take in Geomni’s imagery sourcing group. Under the deal, Verisk, the data analytics company The acquisition will combine Geomni’s imagery survey and content-related teams and assets into Vexcel, while still remaining part of Verisk.
“By combining forces with Verisk, we’re making a progressive move to accelerate innovation within the geospatial data industry,” Erik Jorgensen, chairman and CEO of Vexcel Imaging, said. “Vexcel and Verisk share tremendous synergies, and we look forward to bringing the definitive imagery and geospatial data library to the market—unmatched in its size, quality, and breadth.”
Verisk will become a minority owner in Vexcel with the deal, which also comes with full access to all aerial imagery libraries.
“The strategic alliance between Vexcel and Verisk demonstrates both companies’ resolve to drive rapid innovation across imagery and analytics—to enter new markets, create new categories, and better serve commercial and insurance customers,” Jeffrey C. Taylor, president of Geomni, said. “Partnering with Vexcel is a huge leap forward in the services we can provide customers.”
Geomni maintains a fleet of fixed-wing aircraft that have accumulated a vast library of oblique aerial images, which are often used in risk assessment and for insurance and recovery. The new combination of imagery is set to become the world’s “most comprehensive geospatial image and data library” according to Vexcel.
Vexcel is also maintaining a strong partnership with the Geospatial Intelligence Center (GIC), an insurance industry consortium spearheaded by the National Insurance Crime Bureau (NICB), a nonprofit organization dedicated to fighting insurance fraud and crime, and powered by Vexcel’s data program. The GIC empowers its member insurers to improve their decision making and risk management by leveraging aerial imagery and data in visual tools and automated processes.
The new partnership will provide enhanced support to GIC member insurers in the form of additional flying and processing capabilities as well as access to the newly scaled and unified geospatial library and enhanced analytics.