CycloMedia Acquires Floating Point FX to Fuel US and International Growth
7.3.2019 17:00:00 EET | Business Wire | Press release
CycloMedia, the leading provider of accurate geospatial imagery-data and data analytics, announced today that it has acquired Floating Point FX, a 3D geospatial modeling company based in Madison, Wisconsin.
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CycloMedia (Photo: Business Wire)
Floating Point FX (FPFX) provides powerful data visualization and analytic platforms as a service within multiple geospatial industries. Utilizing mobile LiDAR and imaging techniques, Floating Point FX produces highly detailed 3D visualizations 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 organizations complete solutions for their visualization, 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, analyze 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.
Financial terms of the deal were not disclosed.
About CycloMedia
Founded in 1980, CycloMedia is the leading international provider of data and software solutions virtualizing 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.
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Contact information
Frank Pauli, CEO, CycloMedia
+31 6 122 38 319
fpauli@cyclomedia.com
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