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  • Friday, November 22, 2024

NV5 Closes Purchase of L3Harris’ Geospatial Software Business

NV5 Global (Nasdaq: NVEE) completed its acquisition of the commercial geospatial technology and software business of L3Harris Technologies (NYSE: LHX) following receipt of regulatory approvals.

Technology engineering firm NV5 said Monday it expects the purchase of L4Harris’ Visual Information Solutions business to expand its presence in the North American geospatial data platforms market.

“This acquisition supports NV5’s expansion in a subscription-based geospatial product and service model and strengthens our role in supporting the nation’s defense and intelligence communities through geospatial information management and analytics,” said Dickerson Wright, chairman and CEO of NV5.

The transaction was first announced in December and includes the acquisition of 16 U.S. patents of VIS for geospatial data analytics and 13 more U.S. and non-U.S. Trademark Registrations for geospatial software products such as ENVI, Helios, Amplify, IDL and Jagwire.

L3Harris said the divestiture is in line with the company’s strategy to pursue portfolio optimization and align long-term investments for whole-off-government multidomain platforms and national security priorities.

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