Property Drone Consortium Founder to be Acquired by Vista

Posted by Betsy Lillian on June 17, 2015 No Comments
Categories : Mapping & Surveying

EagleView Technology Corp., a technology provider of aerial imagery, data analytics and GIS solutions, has entered into a definitive agreement to be acquired by Vista Equity Partners, a private equity firm focused on software, data and technology-enabled businesses.

EagleView delivers solutions to the insurance, construction, solar, government and public utility sectors. Pictometry, a wholly owned subsidiary of the company, performs unmanned aircraft systems (UAS) research with the Northeast UAS Airspace Integration Research Alliance and NYSEARCH/the Northeast Gas Association.

EagleView also founded the Property Drone Consortium, a collaboration of insurance carriers, construction industry leaders and supporting enterprises promoting research and development for the safe use of UAS. The consortium recently received a commercial exemption from the Federal Aviation Administration.

Under Vista’s ownership, EagleView will enter a new phase of growth, which will leverage EagleView’s proprietary dataset and analytics to create new product offerings and address underpenetrated verticals.

“We see tremendous value and opportunity in EagleView’s ability to capture high-resolution imagery and extract Big Data and deliver it to a wide range of industries and customers using very progressive technologies,” says Robert F. Smith, chairman and CEO of Vista Equity Partners.

The transaction is expected to close later this year. Financial terms have not been disclosed. William Blair & Company LLC acted as the exclusive financial advisor to EagleView in the transaction.

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