Maxar to take full ownership of 3D data and analytics company Vricon
Maxar Technologies (formerly DigitalGlobe), a US space technology company, revealed plans to exercise its call option to take 100% ownership of Vricon, a Virginia-based 3D data and analytics company, for nearly $140 million.
Vricon was established in 2015 as a joint venture between Maxar Technologies and Swedish aerospace company Saab to combine patented Saab IP with the US firm’s commercial satellite imagery to develop highly accurate, immersive 3D products at scale.
The joint venture company serves defense and intelligence markets with satellite-derived 3D data through software and products that are said to improve 3D mapping, Earth intelligence data, military simulation and training, and precision-guided munitions.
According to Maxar Technologies, the products and technology of Vricon are aligned strongly with its Earth Intelligence growth strategy and priority mission areas outlined in the US National Defense Strategy.
The space technology company expects Vricon to extend its leading position in existing markets with additional high-value growth products, by increasing its accuracy and augmenting automated feature extraction and change detection capabilities. Additionally, the acquisition unlocks new and underpenetrated defense and commercial markets for the space technology firm, such as autonomous navigation and 5G telecommunications network planning.
Dan Jablonsky – Maxar Technologies CEO said: “Maxar commercial satellite imagery has long been foundational to U.S. and allied defense and intelligence operations, and this acquisition will enable training, simulation and tactical missions to be conducted in highly immersive and accurate 3D environments.
“Vricon will allow Maxar to accelerate the creation of a living digital model of the Earth—’The Digital Globe’—and become the global geospatial reference standard for existing and next-generation location-based applications.”
Maxar Technologies plans to exercise its call option to take control of the 3D data and analytics company on or about 25 June 2020, and expects the deal to close next month.