Acquisition Strengthens CycloMedia’s US Presence, Enhances Data Analytics Capabilities
Zaltbommel, Netherlands: 7 March 2019 – CycloMedia, the leading provider of accurate geospatial imagery-data and data analytics, announced today that it has acquired Floating Point FX, a 3D geospatial modelling company based in Madison, Wisconsin.
Floating Point FX (FPFX) provides powerful data visualisation and analytic platforms as a service within multiple geospatial industries. Utilising mobile LiDAR and imaging techniques, Floating Point FX produces highly detailed 3D visualisations of street-level environments. The company has been successfully delivering highly accurate data analytics solutions within the transportation, utilities & communications and public works markets. Increasingly, these workflow-enhancing solutions have been derived from CycloMedia’s highly accurate 3D imagery and LiDAR data.
Together, CycloMedia and Floating Point FX provide a wide range of imagery data analytics services, including LiDAR scanning, 3D modeling and 3D real-time scene capture, offering organisations complete solutions for their visualisation, design and analysis needs.
The acquisition allows CycloMedia to rapidly grow its presence in North America and to provide highly accurate data sets and street-level imagery across a wide variety of government and commercial markets. The deal will also enable future expansion into additional customer markets globally.
CycloMedia and Floating Point FX’s customers will benefit from the combined offering, which seamlessly delivers an accurate digital representation of the outside world to allow them to assess, analyse and measure physical infrastructures remotely.
“This is a strategic acquisition for CycloMedia that strengthens our team, builds our resources and expands our offering to accelerate our growth. Bolstering our US presence is an essential part of CycloMedia’s growth strategy worldwide,” said Joe Astroth, CEO US of CycloMedia.
“As the external world becomes increasingly complex, the integration of our two companies’ data and data analytics capabilities will help us meet our joint customers’ growing demand for a highly accurate, real-time digital representation of their environments. As part of this acquisition, we are exploring options to also introduce Floating Point’s technology in Europe.” said Frank Pauli, CEO of CycloMedia.
The deal follows significant equity investment in CycloMedia in August 2018 by Volpi Capital, a specialist European lower mid-market private equity firm. The Floating Point FX acquisition is part of CycloMedia’s data analytics investment strategy announced last year.
Crevan O’Grady from Volpi Capital added: “This is a landmark deal for CycloMedia. The addition of Floating Point FX gives CycloMedia an excellent platform in North America from which to capture the significant market opportunities, whilst also building upon its US success to date. This is also a proof of concept for the international buy and build strategy that Volpi and CycloMedia’s management have jointly set out in order to expand and grow the business over the medium term.”
Financial terms of the deal were not disclosed.
About CycloMedia
Founded in 1980, CycloMedia is the leading international provider of data and software solutions visualising the outside world accurately on-screen. CycloMedia’s customers derive actionable insights from the geodata platform to power day-to-day decisions remotely and with more accuracy, delivering exceptional ROI. CycloMedia focuses its solutions on tax assessment, asset management, public safety, construction & engineering, utility & transportation and insurance & real estate. CycloMedia employs 200 people and is based in Zaltbommel, the Netherlands, with operations in the US, Germany, and Scandinavia. For more information, please visit www.cyclomedia.com.
About Volpi Capital
Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive trans-formative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million.
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