Field buys AI drone-tech firm PrecisionHawk

Field has announced its acquisition of PrecisionHawk, a US-based artificial intelligence (AI) and drone technology company for infrastructure management. With a premium client list of Fortune 500 companies, PrecisionHawk supports Field’s international growth strategy, particularly in terms of expansion in the USA.

“We’re on a mission to build and maintain a better tomorrow with smarter and more sustainable insights from geospatial data. We’re thrilled to merge our products and technology to offer world-class infrastructure management solutions to customers across the US, Europe and beyond,” said Cato Vevatne, CEO of Field. The two companies’ proprietary software and inspection technologies using artificial intelligence and machine learning offer an exciting new inspection and analytics solution to the US infrastructure and energy sectors.

Autonomy and artificial intelligence

Field is a renowned provider of digital reality services in Europe, specializing in utilizing a combination of software, sensors and autonomous technologies to improve efficiency and reliability in the infrastructure, construction, environment and public sectors. Its innovative approach puts data to work in practical ways, streamlining operations and enhancing performance. Meanwhile, PrecisionHawk is a leading industry player with a comprehensive offering that spans from high-quality data collection to advanced AI algorithms which provide actionable intelligence. As a result, the company is well-equipped to deliver end-to-end solutions that support a variety of needs and use cases.

“This acquisition will disrupt the US infrastructure and energy markets and drive the transition to more sustainable and effective solutions. Our combined resources will help our customers to enhance efficiency and reliability, build resilience, manage risk and safety, and move towards a cleaner and greener future,” continued Vevatne.

According to him, Field and PrecisionHawk share similar values and a commitment to shaping the future of infrastructure management globally. The combination of team expertise and leading technology across countries is a smart strategic decision that will benefit customers in Europe and the USA. “Acquiring PrecisionHawk makes complete sense. We’re introducing state-of-the-art European technology to the US, and they’re sharing specialized knowledge with us. It’s a highly collaborative process,” he added.

“Our European customers and partners will benefit from our collective insights and innovations. Our unwavering commitment to our European customers remains unchanged, and we’ll continue to deliver the same high-quality service they have come to expect. There will be no changes in our day-to-day operations in Europe,” Vevatne concluded.