Vexcel Imaging acquires New Jersey aerial-imaging division from Verisk

BOULDER — Vexcel Imaging Inc. is set to acquire an aerial-imaging division from Verisk Analytics Inc. (Nasdaq: VRSK) in what the companies say will make the largest geospatial image library.

Boulder-based Vexcel said it would combine its aerial camera and sensors systems with Geomni’s aircraft to get more-accurate images around the world, according to a joint statement from the companies. The combination looks to target insurance and underwriting companies that use imaging to assess risk and estimate damages to a protected property.

Financial terms of the deal were not disclosed, but Verisk will take a minority stake in Vexcel. Verisk has yet to make any filings regarding the sale to the U.S. Securities and Exchange Commission.

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However, Verisk has been in a legal battle since 2015 with Bellvue, Washington-based Eagle View Technologies Inc. over the Geomni Roof and Geomni Property products, which Eagle View said infringes on its patents. A jury found Verisk guilty of patent infringement and assessed $125 million in damages, while a judge filed an injunction last October to prevent Verisk from selling those two Geomni products alongside other software in its portfolio.

A spokeswoman for Vexcel declined to comment on the litigation because it occurred before the acquisition. Eagle View did not respond to a request for comment.

Vexcel was originally formed in 1992 and was bought by Microsoft Corp. (Nasdaq: MSFT) in 2006 as the computing giant tried to win a foothold in the low-end mapping systems market with its MapPoint desktop program and Bing Maps apps. It was spun off into a private company in 2016.

It currently employs about 60 workers in its Boulder offices and has a second office in Graz, Austria.