By Will Feuer


NV5 Global Inc. said it has agreed to buy the visual-information solutions business from L3Harris Technologies Inc. for an undisclosed amount.

L3Harris' VIS business has 150 employees and provides commercial geospatial solutions through proprietary software applications. As part of the deal, NV5, a Florida technical engineering consulting firm, will buy 16 U.S. patents and 13 U.S. and non-U.S. trademark registrations.

L3Harris, a Florida technology and defense contractor, said it expects a benefit of up to $100 million from the sale, which is scheduled to close in mid-2023.

The acquired proprietary software and analytics tools are routinely relied upon by the U.S. Department of Defense and federal civilian agencies, the companies said.

"This acquisition solidifies our position as the nation's premiere provider of geospatial data solutions and expands NV5's suite of subscription-based, commercial geospatial software applications," NV5 Chief Executive Dickerson Wright said.

Mr. Wright said most of the acquired business's revenue comes from sectors that typically aren't affected by rising interest rates.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

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