San Diego, California-based Lytx Inc. announced that it has signed an agreement to be acquired by private equity firm GTCR in an all-cash transaction of more than $500M. The deal is expected to close in the first quarter. Founded in 1998, Lytx provides solutions that help improve the safe fleet driving behavior of over 1,400 clients in various markets including government, construction, distribution, services/utilities, transit, trucking, and waste. The company's flagship offering is DriveCam which helps improve driver behavior and reduce operating costs by integrating intelligent video capture of driving events, personalized data-backed coaching insights, fleet tracking, and fuel management. While we don't have an exact revenue figure, the company had booked contract value of nearly $200M in 2015.
Lytx is being advised by Rothschild and Morgan Stanley.
San Diego, California-based Aerial MOB LLC announced that it has reached a strategic partnership agreement with Quantum Spatial Inc. (QSI). Aerial MOB provides UAS aerial technology applications and is the first compapny in the US to gain FAA approval for commercial drone use. QSI is a supplier off geospatial data and solutions. Under the strategic agreement, both companies will work towards combining their capabilties to better provide geospatial data solutions via UAS technology.
h/t to Andre Doumitt at Digital Adopxion for the tip.
EBA Engineering Inc. announced that it acquired geographIT, a 10-person geospatial firm based in Lancaster, Pennsylvania. GeographIT provides a range of consulting, custom development, and integration services for geospatial and IT including automating clients' operations, streamlining data collection and management workflow, software development, database integration, and support services. The firm's clients are in public safety, emergency management, natural resources, transportation, and utility. Deal terms were not disclosed.
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