Nearmap Announces Acquisition of Technology and Intellectual Property

  • Dec 12, 2019 AEDT
  • Team Kalkine

Nearmap Ltd (ASX: NEA) has acquired intellectual property and technology from Primitive LLC. The acquisition enables the company to obtain and propagate roof geometry from its capabilities along with additional location intelligence.

  • The acquisition is priced at USD 3.5 million and it is funded through $70 million equity raising in September 2018.
  • The technology allows to monetise next generation HyperCamera2 content used in solar and roofing industries.
  • The transaction is complementary to projects including drone delivery routes, and model 5G propagation.

By 1:16 PM AEST, NEA was trading at $2.57, down by 1.15% from the last close.


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