Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Bothell aerial imagery firm sold

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
Published:
A Bothell company that provides aerial imagery to the insurance and construction industries, and to the government, is being sold for $650 million in cash.
EagleView Technology Corp. is being acquired by New Jersey-based Verisk Analytics. The deal is expected to become final by July 15.
Brothers-in-law Dave Carlson and Chris Pershing founded the original company six years ago and then hired Chris Barrow as its CEO several months later.
"I thought they had something really neat," Barrow told the Herald Business Journal last year. "They built a really fun, really small, underfunded company and I was able to come aboard, bring some angel investors and bring in some additional money, structure a real board and put the company together."
The company uses aerial imagery to measure roofs to provide entire building measurements, including walls, windows, doors and siding. The information is used for valuation and risk management.
EagleView maintains one of the most comprehensive image libraries, covering more than 85 percent of the U.S. population, more than 1 million square miles, and approximately 90 percent of total U.S. structures.
"We now not only create the roof measurements from those photos but we also own the technology and the photograph acquisition itself," Barrow said last year. "We in effect doubled the size of our business overnight."
In 2012, EagleView made Inc. Magazine's list of the country's fastest growing privately held companies.
Last year, the original company merged with Pictometry International, a geo-referenced aerial oblique imaging company based in Rochester, N.Y.
This week, the deal was announced that EagleView would be bought by Verisk, which provides risk-assessment data to insurers and banks.
"We're excited to welcome our new colleagues to the Verisk family and look forward to integrating their substantial knowledge and experience in imagery with our own," said Jim Loveland, president and chief executive officer of Verisk's Xactware business.
Barrow also praised the deal, saying its a win for EagleView's customers and employees.
"Our teams stand ready to build on the strength of our existing solutions with the benefit of Verisk's analytic expertise, customer relationships, and financial resources," Barrow said in the press release.

Story tags » Bothell

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup