Tuesday, March 6, 2007
Denver: Intermap Technologies Corp. (TSX: IMP, AIM: IMAP) today announced it has acquired the shares and ongoing operations of MultiMedia Computer s.r.o. (MMC), a Czech Republic software development company.
The acquired business includes a current customer base, a recurring revenue stream, and a unique software development platform that Intermap has previously used to develop customer applications. MMC has also successfully used its software and the technical expertise of its 20-person staff to develop and deploy flood-mapping applications while securing strong relationships within the European insurance industry. The acquisition of MMC will enable Intermap to evolve its product offerings from pure data sales to solution-based applications for specific markets where strong demand for 3D digital elevation data exists.
“The acquisition of MMC allows Intermap to quickly deliver highly innovative solutions to our customers worldwide,” explained Brian Bullock, president and CEO of Intermap Technologies. “MMC's current success in the insurance industry will be leveraged into additional markets within our geographic reach. For example, MMC's technological expertise will help propel Intermap into the emerging recreational PND and advanced driver assistance systems arenas. Additionally, MMC will support our continued efforts to bundle progressive solutions for existing enterprise and government markets.”
Since its founding in 1992, MMC has successfully developed scalable software-based solutions for GIS applications, geographic data processing, and location-based services. MMC's robust Web-enabled platform allows customers to access geospatial solutions by connecting them to the platform's applications via central servers using traditional desktop applications, Web browsers, and mobile computing devices. Of particular value is the high level of security the platform provides that many competing applications cannot deliver.
“As a result of our historical relationship with Intermap, the seamless integration of MMC's applications into Intermap's product offerings should provide immediate and significant value to Intermap's customers,” commented Zdenek Drbohlav, CEO of MMC. “The merging of MMC's triumvirate of dedicated people, sophisticated tools, and solid insurance relationships with Intermap's superior 3D digital elevation data and internationally recognized leadership role within the evolving geospatial community, will ensure Intermap's transition to a preeminent solutions-based provider.”
About Intermap Technologies
Intermap enables customers to facilitate better decision-making and create applications for numerous commercial, governmental, military, and consumer products through the purchase of high quality and affordable elevation datasets. The Company is proactively remapping entire countries and building unprecedented national databases, called NEXTMap, consisting of highly accurate digital topographic maps that include elevation data.
Demand for NEXTMap data is growing as new commercial applications are emerging, including geographical information systems (GIS), engineering planning, transportation, automotive, navigation, flood, irrigation, environmental management and planning, telecommunications/wireless network planning, aviation, simulation, and 3D visualization. Internet applications include virtual tours, topographic maps and computer games. Datasets are also used to add interactive intelligence to airborne and satellite imagery.
Headquartered in Denver, Colorado, Intermap employs more than 400 people worldwide, with additional offices in Calgary, Detroit, Jakarta, London, Munich, Ottawa, and Prague. For more information, visit www.intermap.com.
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