NV5 Global signs agreement to acquire VIS business from L3Harris Technologies

NV5 Global (NVEE) announced that it has entered into a definitive purchase agreement to acquire L3Harris Technologies’ (LHX) Visual Information Solutions commercial geospatial technology and software business, VIS. The acquisition expands NV5’s position as a leading provider of subscription-based software products for the analysis and management of geospatial data. The acquisition is an all-cash transaction and will be immediately accretive to NV5’s earnings. Closing is subject to regulatory approvals and is currently anticipated to occur during the first half of 2023. "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, PE, Chairman & 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. We have already identified significant synergies, and our geospatial group is currently using the software applications. We anticipate enhanced cross-selling opportunities between the business and our current NV5 platform in 2023."