Vricon is a company specializing in satellite-derived 3D data and analytics, providing software and products that enhance 3D mapping, Earth intelligence, and military simulation. Originally a joint venture between Maxar and Saab, Vricon was later fully acquired by Maxar Technologies. Their technology is known for producing high-resolution 3D models of cities and terrain from satellite imagery, catering to defense, intelligence, and commercial markets. Key partners and customers include the U.S. Army, and their work supports programs like One World Terrain (OWT).
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Maxar acquired Vricon, a 3D geospatial products and analytics specialist, in July 2020.
Maxar Technologies recorded an $85,000,000 gain on remeasurement of the previously held equity interest in Vricon for the quarter ended 2020-09-30.
Maxar Technologies’ 2020-07-01 increase in net income was primarily driven by an $85,000,000 gain on remeasurement of the previously held equity interest in Vricon and an increase in revenues.
On 2020-06-25, Maxar Technologies will pay $140,000,000 to take full ownership of Vricon.
Vricon uses satellite imagery from Maxar and intellectual property from Saab to produce 3D mapping products.
Vricon generated $40,000,000 in revenue in 2019, up 90% year over year, and $20,000,000 in adjusted earnings before interest, taxes, depreciation and amortization.
Maxar is funding the Vricon acquisition by refinancing $150,000,000 in debt.
Vricon is expected to have $25,000,000 in cash on hand at the time of purchase, effectively lowering the purchase price to $115,000,000.