NV5 Acquires GEO1 For Undisclosed Sum

June 21, 2022 1:51 PM | 1 min read | Make a Comment

NV5 Global Inc NVEE has acquired GEO1 through an asset purchase of Aerial Filmworks, LLC. Deal terms were not disclosed.
Hawthorne, California-based GEO1 provides geospatial lidar, aerial imagery, and data analytics solutions to utilities, government agencies, and the environmental sector. It has 25 employees.
NVEE expects the acquisition to be immediately accretive to its earnings.
GEO1 expands NV5's embedded relationships with key utility clients.
NVEE held cash and equivalents of $81.95 million as of April 2, 2022.
Price Action: NVEE shares are trading higher by 2.02% at $108.50 on the last check Tuesday.