Summary:
BENGALURU, India, May 27, 2022 /PRNewswire/ -- SatSure, a deep tech startup working at the intersection of spacetech, Artificial Intelligence (AI), and Software as a Service (SaaS) to drive decision intelligence, is pleased to announce the acquisition of Philadelphia-based Old City Innovations (formerly Geospoc LLC, USA) in a cash plus stock deal, marking its entry into the U.S.
market.
Old City Innovations (OCI) was founded in 2014, and counts Syngenta, DMI, and Applied Residential among its key customers.
Headed by Archie Menezes and Cara Kolson, OCI has been providing geospatial services in the domains of mortgage, agriculture, insurance, and drone markets in the U.S.
Post the acquisition, the key management personnel of OCI will be joining SatSure, which will take over the customers contracts and leverage OCI"s expertise to expand its geospatial analytics business footprint in the U.S.
market.
"The U.S.
is undoubtedly the largest market for solutions with Earth observation (EO) data at its core, and hence having our presence there is the next step in our plans to become a global force in the space industry, as a full stack EO company with a keen focus on customer"s decision intelligence.