Vexcel Imaging, a specialist in aerial imagery data, cameras, and photogrammetry software, has agreed to acquire the imagery sourcing group from Verisk’s Geomni business.
The deal will combine Geomni’s imagery surveying and content-related teams and assets into Vexcel, and will also see Verisk become a minority owner in Vexcel, with full access to all aerial imagery libraries.
The parties expect the combination of Geomni’s fleet of fixed-wing aircraft and aerial operations, mapping business, and oblique aerial image library together with Vexcel’s sensor business and data program will create a competitive geospatial data library.
Going forward, Geomni’s analytics team and assets will remain part of Verisk, and the team will work closely with Vexcel on joint projects.
“The strategic alliance between Vexcel and Verisk demonstrates both companies’ resolve to drive rapid innovation across imagery and analytics—to enter new markets, create new categories, and better serve commercial and insurance customers,” said Jeffrey C. Taylor, President of Geomni. “Partnering with Vexcel is a huge leap forward in the services we can provide customers.”
Vexcel Imaging was founded in 1992 and launched its line of UltraCam systems in 2003.
The company is headquartered in Boulder, Colorado and operates an office in Graz, Austria. Following the acquisition, it will also have teams and operational hubs strategically located throughout the US and in Spain.
“Our alliance with Vexcel benefits our customers through a unified, robust, and rapidly expanding global aerial imagery library that will deepen their understanding of ground truth,” said Mark Anquillare, Chief Operating Officer of Verisk.
“The combination of Verisk’s and Vexcel’s data will provide tremendous coverage for customers and help drive Verisk’s proven ability to innovate advanced analytic solutions,” he added.
Erik Jorgensen, Chairman and CEO of Vexcel Imaging, also commented: “By combining forces with Verisk, we’re making a progressive move to accelerate innovation within the geospatial data industry.”
“Vexcel and Verisk share tremendous synergies, and we look forward to bringing the definitive imagery and geospatial data library to the market—unmatched in its size, quality, and breadth.”
Vexcel currently maintains a partnership with the Geospatial Intelligence Center (GIC), an insurance industry consortium spearheaded by the National Insurance Crime Bureau (NICB), a non-profit organization focused on tackling insurance fraud and crime.
The new partnership is expected to provide enhanced support to GIC member insurers in the form of additional flying and processing capabilities, as well as access to the newly scaled and unified geospatial library and enhanced analytics.
