HOLLYWOOD, Fla., Dec. 20, 2019 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering and consulting solutions, announced today the completion of the previously announced acquisition of Geospatial Holdings, Inc. and its subsidiaries, including Quantum Spatial, Inc., the nation's largest independent geospatial analytics firm. NV5 acquired QSI in an all-cash transaction for approximately $318 million, including the amount by which QSI’s working capital exceeded the agreed target working capital figure and QSI’s closing date cash balances. NV5 expects the acquisition to expand and diversify NV5’s customer base to include new federal, state, and commercial clients in the high-growth geospatial data analytics market and, as a result, current 2020 guidance to be increased following a post-closing review of QSI opportunities and synergies.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 in the Engineering News-Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate, and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations worldwide. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
About Quantum Spatial
Quantum Spatial, Inc., one of the nation's largest independent geospatial data firms, provides geographic insights to the largest government and corporate organizations that need geospatial intelligence to mitigate risk, plan for growth, better manage resources, and advance scientific understanding. A pioneer in advanced mapping technology, Quantum Spatial’s end-to-end solutions and services deliver the industry's highest data quality and accuracy, while leveraging the widest array of technologies for analyzing all types of terrains. Customers use the Company's acquisition, processing, analytics, and visualization solutions in a range of technical and scientific disciplines – from geology and biology, to hydrology, forestry, and civil engineering. Utilities, oil and gas producers, engineering, and construction firms, as well as the military and major government agencies, are Quantum Spatial customers. Quantum Spatial has multiple offices around the country.
