NovAtel Inc. Acquires Waypoint Consulting Inc. - 10/10/2005
NovAtel Inc. (Canada) has announced that it has acquired Waypoint Consulting Inc.(Canada) 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 specialised 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.
NovAtel expects the acquisition of Waypoint will contribute approximately CDN $2 million revenue on an annualised basis.