NovAtel Acquires Waypoint Consulting
NovAtel Inc., a precise positioning technology company, announced that it has acquired Waypoint Consulting Inc., located in Calgary, Alberta, for approximately CDN $3.2 million, in cash.
Waypoint is a precise positioning software company that produces real-time and post-processing position determination software using input from precision GPS and GPS/inertial systems.
The acquisition of Waypoint is expected to immediately broaden NovAtel’s base of core precise positioning technology and enables NovAtel to address growing customer demand for specialized real-time and post-processing GPS and GPS/inertial positioning and trajectory software. NovAtel plans to leverage Waypoint’s proven products, intellectual property and expertise across a number of market applications.
“A key element of NovAtel’s growth strategy is to partner with and/or acquire businesses having complementary technology, products and/or access to markets. We believe the acquisition of Waypoint demonstrates our continued commitment to meet evolving market needs by offering a broader range of precise positioning technology and OEM solutions to our worldwide customer base,” stated Jon Ladd, NovAtel’s President and CEO. “Over the past 13 years, Waypoint has established a strong industry reputation of technical excellence, competitive products and high quality technical support. We are very pleased to have their talented team join forces with us in our goal to become the leading provider of precise positioning technology to our targeted commercial markets.”
“This is a tremendous opportunity for Waypoint,” said Hugh Martel, Co-founder and President of Waypoint. “The combination of our internationally recognized GPS and GPS with inertial software with the leading-edge GPSplus products being developed by NovAtel will deliver even better positioning solutions to our customers.”
“Waypoint is extremely excited to join NovAtel as it allows us to focus 100% of our efforts on software development and support with the ability to leverage NovAtel’s business operations for greater expansion,” added Darren Cosandier, Co-founder and Managing Director of Waypoint.
NovAtel expects the acquisition of Waypoint will contribute approximately CDN $2 million revenue on an annualized basis.