Aerometrex has entered into an agreement to acquire Australian aerial imagery company Spookfish Australia Pty Ltd (“Spookfish”) from its parent company, Eagleview Technologies, Inc. (“EagleView”).
This acquisition will expand Aerometrex’s already extensive customer base as well as imagery coverage and aligns with the company’s strategy to pursue growth opportunities within the high-end geospatial market. The completion of this acquisition is conditional on Aerometrex completing due diligence investigations satisfactorily. These investigations are expected to be completed in the next two weeks.
The agreement provides for Aerometrex and EagleView to also explore opportunities to collaborate their efforts within the artificial-intelligence driven spatial analytics domain as well as Aerometrex’s highly advanced 3D modelling service in the United States, where Aerometrex has recently launched operations.
As part of this agreement, Aerometrex shall pay up to $1.5 million for the acquisition which shall provide the company access to all Spookfish client contracts and a data licence to use the Spookfish aerial imagery datasets within Aerometrex’s subscription service, MetroMap. We are confident that existing Spookfish clients will see this as a very positive development as they will substantially increase their imagery entitlements straightaway, as will our MetroMap customers. In addition, Spookfish clients will get access to our world-leading 3D products.
Aerometrex Managing Director, Mark Deuter is pleased to have established a strong relationship with EagleView and he sees the two companies’ activities to be highly complementary. Rishi Daga, CEO of EagleView, commented: “We are excited to be joining forces with Aerometrex to help our customers be more successful. This partnership helps our customers be stronger in these challenging times.”