Intermap Technologies (IMP.TO) is acquiring PCI Geomatics for $11 million cash, the company said Wednesday.
PCI is a provider of commercial geospatial image processing technologies, with more than 750 proprietary algorithms supporting imagery from more than 500 satellites in-orbit, and embedded in thousands of workflows worldwide, a statement said.
The arrangement is expected to increase Intermap's recurring commercial subscriptions and repeat contracted licenses.
Intermap Technologies closed up C$0.05, to C$1.07 on Tuesday on the Toronto Stock Exchange.