NV5 Acquires GIS Solutions, Inc, Enhances Geospatial Application Development and Cloud Services for Departments of Transportation
04 Abril 2024 - 6:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of technology, conformity assessment,
and consulting solutions announced today that it has reached an
agreement to acquire GIS Solutions, Inc. (“GIS Solutions”), a full
range provider of enterprise geographic information system (GIS)
technologies and services including GIS application development,
cloud-based database design, data science, and project management.
GIS Solutions supports state departments of transportation and
utilities by developing solutions that monitor asset management,
expedite efficient service delivery, and deliver real time mapping
and incident reporting. The acquisition was made with a combination
of cash and stock and will be immediately accretive to NV5’s
earnings.
“Tech-enabled services, such as geospatial solutions, have grown
as a percentage of NV5’s revenue as we focus on services with
higher margins and more rapid scalability than traditional
surveying services, and we are pleased to add GIS Solutions to the
NV5 organization,” said Dickerson Wright, PE, Executive Chairman of
NV5. “We will continue to identify and pursue opportunities in
geospatial and other tech-enabled service categories to drive
margin expansion and organic growth throughout NV5.”
GIS Solutions specializes in developing web-enabled GIS database
applications from multiple modalities to track and monitor
transportation resources and asset conditions for departments of
transportation, a growing sector in the geospatial market. GIS
Solutions also provides cloud-managed and systems design services
to help organizations employ geospatial solutions. Applications may
be utilized in cloud-based environments, networked desktop
solutions, and mobile applications to meet the unique accessibility
and security requirements of clients and their constituents.
“We are excited to join the NV5 team, and we look forward to the
growth opportunities available to our valued employees as part of
the nation’s largest geospatial data analytics firm,” said Jim
Conlon, President of GIS Solutions.
About GIS SolutionsHeadquartered in
Springfield, IL, GIS Solutions is a full range provider of
geographic information system products and services including
design, development, and deployment of enterprise GIS solutions to
public agencies, utilities, and private clients. GIS Solutions’
expertise in database design and application development is the
foundation of our leading-edge information systems consultation and
technical services. For more information, please visit
www.gis-solutions.com.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of technology, conformity assessment, and consulting
solutions for public and private sector clients supporting
sustainable infrastructure, utility, and building assets and
systems. The Company focuses on multiple verticals: testing,
inspection & consulting, infrastructure engineering, utility
services, buildings & owner representation, environmental
health sciences, and geospatial technology services to deliver
innovative, sustainable solutions to complex issues and improve
lives in our communities. NV5 operates out of more than 100 offices
nationwide and abroad. For additional information, please visit the
Company’s website at www.NV5.com. Also visit the Company
on LinkedIn, Twitter, Facebook,
and Instagram.
Forward-Looking StatementsThis 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.
Investor Relations ContactNV5 Global, Inc.Jack
CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
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