L3Harris Technologies is selling its Visual Information Solutions (VIS) commercial geospatial technology and software business to engineering services company NV5 Global.
NV5 announced the acquisition on Dec. 22 and did not share the purchase price. It is an all-cash transaction. The deal is subject to regulatory approvals and expected to close in the first half of 2023.
VIS is a 150-employee business and sells software that analyzes satellite imagery and data for geospatial solutions. This includes ENVI, the geospatial industry standard for image processing and analysis, SARscape, IDL, Jagwire, Amplify, and Helios. NV5 said that it will acquire 16 U.S. patents for geospatial data analysis, imaging, real-time weather monitoring, and situational awareness.
“This acquisition solidifies our position as the nation’s premiere provider of geospatial data solutions and expands NV5’s suite of subscription-based, commercial geospatial software applications,” said Dickerson Wright, chairman and CEO of NV5. “The business aligns well with NV5’s existing geospatial sector focus. A significant majority of the acquired business’ revenue is derived from sectors that are historically not impacted by interest rate fluctuations, such as public-sector environmental and defense, utilities, energy, infrastructure, and healthcare.
Wright added that the company’s geospatial group is currently using VIS software applications and anticipates cross-selling opportunities with its current platform in 2023.
L3Harris has gone through a number of divestments and acquisitions in the past year. The company just announced a $4.7 billion deal to acquire engine and rocket maker Aerojet Rocketdyne, and will soon close its acquisition of Viasat’s tactical data link product line. Earlier in 2022, L3Harris sold its Space and Navigation business to Emcore Corp. for $5 million.