The Sanborn Map Company Inc. Announces Acquisition of the assets of VeriDaaS

Strategic Acquisition Enhances The Sanborn Map Company's Lidar Products and Analytics Portfolio and Market Position

COLORADO SPRINGS, Colo. — (BUSINESS WIRE) — July 9, 2024 — The Sanborn Map Company Inc. (Sanborn), a leader in the geospatial industry, today announced the acquisition of the assets of VeriDaaS, a cutting-edge technology company specializing in Geiger mode lidar. This acquisition aligns with Sanborn's strategic vision to continue growth and provide the latest technology to customers. Sanborn will integrate VeriDaaS assets and innovative solutions into the Mapping Division, enhancing the company's ability to deliver comprehensive and advanced technological solutions and services to customers. This acquisition is expected to drive significant growth in the next few years for the company as the technology has matured significantly since it was first introduced.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240709240551/en/

Example of Geiger-mode lidar point cloud provided by VeriDaaS. The acquisition of the photon counting lidar technology along with value added product generation is a significant step forward for Sanborn. (Photo: Business Wire)

Example of Geiger-mode lidar point cloud provided by VeriDaaS. The acquisition of the photon counting lidar technology along with value added product generation is a significant step forward for Sanborn. (Photo: Business Wire)

“The acquisition of the photon counting lidar technology along with value added product generation is a significant step forward for Sanborn. This groundbreaking technology developed from significant previous investments perfectly complements our commitment to innovation and excellence. We will accelerate our growth in Lidar products and analytics expanding our capabilities to better serve our clients and partners,” stated John Copple, CEO of Sanborn.

VeriDaaS developed a significant number of market applications, with a portfolio that includes asset management, vegetation management, solar sighting, flood risk and resilience, wildfire management, urban change analysis and many other applications. The integration of this technology with Sanborn’s linear mode Lidar is expected to enhance Sanborn's offerings and provide customers with superior services.

Sanborn was advised by The Environmental Financial Consulting Group, LLC (EFCG) Financial and terms of the transaction were not disclosed.

For more information about the acquisition and what it means for customers and partners please visit https://sanborn.com/ or please contact Mr. Jason Caldwell, Vice President, Business Development, via phone: 719-264-5547, fax: 719-528-5093, email: jcaldwell@sanborn.com.

About The Sanborn Map Company

Sanborn’s leadership in the creation of high-quality spatial data began in 1866. Today Sanborn is at the forefront of spatial data collection, geospatial solutions, and GIS technical innovation. The scope of Sanborn data collection - imagery to lidar to geophysics from satellite, aerial, mobile and ground platforms - allows Sanborn to meet the information needs of any customer, from digital elevation and terrain models to 2D and 3D models of buildings, utilities, vegetation, facilities, hydrography, and much more. The Sanborn advantage is to help customers identify the right strategy, data and technology to match their needs, budget, and system requirements. To learn more about Sanborn, visit sanborn.com.



Contact:

Tom Harrington, PhD, CMO
tharrington@sanborn.com

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