HOLLYWOOD, Fla., Dec. 26, 2017 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (Nasdaq:NVEE) (“NV5” or the “Company”), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired Skyscene, LLC (“Skyscene”), a leading provider of Unmanned Aerial Vehicle (UAV) flight services headquartered in San Diego, California. NV5 anticipates that the acquisition of Skyscene will initially add $5 million to operations. The acquisition was made entirely in cash and will be immediately accretive to NV5’s earnings.
Integrating NV5’s LiDAR (Light Detection and Ranging) mapping technology with Skyscene’s UAV flight services positions NV5 as one of the leading UAV LiDAR aerial mapping service providers in the nation. Traditionally provided with fixed wing aircraft or helicopters, the use of UAV LiDAR adds value to our clients by providing higher resolution mapping, rapid mobilization, and more cost effective services than can be achieved using manned aerial vehicles or traditional survey methods.
“NV5 is always looking for opportunities to integrate new technologies that will add value to our clients and will differentiate us in the marketplace,” said Dickerson Wright, PE, Chairman and CEO. “The acquisition of Skyscene is pivotal in meeting the ever-increasing demand for these services in all of our five business verticals.”
Skyscene President and CEO Matthew O’Brien said, “Skyscene and NV5 have an established working relationship in providing this leading technology to clients from Maine to Hawaii. Our acquisition by NV5 gives us the opportunity to work in a seamless manner and create leading-edge geospatial solutions utilizing UAV LiDAR technology. We are excited to expand our services nationwide and look forward to helping NV5 become a leading geospatial solution provider using UAV technologies.”
Skyscene is a premier aerial survey and mapping company that provides flight services using the latest drone technology. The company operates fixed wing and multirotor UAV’s while carrying the most advanced remote sensing equipment. Skyscene is an industry leader in creating faster, more affordable, and more accurate solutions for clients across the nation.
NV5 Global, Inc. (NASDAQ:NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations nationwide and abroad in Macau, Shanghai, Hong Kong, and Vietnam. For additional information, please visit the Company’s website at NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
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NV5 Global, Inc.
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Source: NV5 Global, Inc.