Santa Monica-based drone flight management software developer AirMap Inc. acquired Hangar Technology Inc. on Sept. 23, adding advanced flight planning and drone image processing technology to its existing software offerings.
AirMap did not disclose terms of the deal.
Austin, Texas-based Hangar Technology’s drone products include JobSight, a construction app that automates aerial site imaging and panoramas, and TowerSight, an application for automated tower inspections.
Hangar’s platform automatically processes and analyzes drone data to create a digital reconstruction of features scanned from the air.
Hangar Technology will operate as a subsidiary of AirMap and will maintain its headquarters in Austin.
“Hangar first joined the AirMap community as a developer of breakthrough automation technologies for enterprises, and we’re excited to bring this engineering talent in-house to make this technology available to our entire developer community,” said AirMap founder and Chairman Ben Marcus.
AirMap has raised $45.6 million since its 2014 launch, according to PitchBook Data Inc. The company's backers include Beverly Grove-based TenOneTen Ventures; Santa Monica-based Wonder Ventures; Tokyo-based Sony Corp.’s Sony Innovation Fund; and M12, Microsoft Corp’s venture arm.
AirMap added former Federal Communications Commission Chairman Tom Wheeler to its board in June to help the company navigate rapidly changing regulations surrounding drone flights.
“The drone market is still growing, technology is being developed and it's a robust market," Bloomberg Aerospace Analyst George Ferguson told the Business Journal in June. "People are finding new and different ways to use drones. There's a bunch of investment happening there, and everybody is looking for a way to do their business cheaper using things like drones.”
Tech reporter Samson Amore can be reached at firstname.lastname@example.org or (323) 556-8335. Follow him on Twitter @Samsonamore.
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