"This acquisition is the continuation of an ongoing investment and commitment to product growth, development and innovation," said Maponics CEO, Dan Adams. "Urban Mapping has been a valuable player in the industry for years. This opportunity allows Maponics to take in a tremendous asset that is a true complement to our growing portfolio of precision boundary data," he added.
This announcement follows the recent launch of Maponics Communities™. Anchored by neighborhood boundaries, Communities unlocks new and exciting opportunities to go beyond traditional boundaries to see and understand the world and the people Maponics' customers serve more precisely.
Technology companies are demanding solutions that are much more personalized and adapted to fit the exact context consumers use them in. Communities offer a more nuanced understanding of location and allows for a new model in value creation to take shape. Rather than one-size fits all solutions on a mass scale, companies and organizations can use Communities to create highly local, contextualized solutions to stand out in the marketplace.
"Placing Urban Mapping Neighborhoods within Maponics' product offering and layering it into their Communities product roadmap is a logical and exciting step," said Ian White CEO of Urban Mapping. "I know Maponics' commitment to building Communities data will mean a great enhancement for users of Neighborhood data. As I pursue new business endeavors, I am excited to leave the data in Maponics' very capable and proven hands."
Since 2006, leading interactive publishers such as Apple, Google, Yahoo! and Microsoft, and leading enterprises such as CoStar Group, Tableau Software and CoreLogic have utilized Urban Mapping's geospatial data and technology. Coupled with Maponics' extensive client roster boasting major brands in real estate, search, direct marketing, social networking, among others, the intersection of these two product lines positions Maponics with the ability to grow and serve existing markets while expanding Maponics' capabilities and strengthening their overall position worldwide.
"Neighborhood data is a critical component of Maponics' DNA and always will be," said Mark Friend, Maponics' Vice President of Sales and Business Development. "This asset acquisition will make our entire Communities product lineup even stronger at a time when customers are looking to leverage new advancements in spatial data, especially at the local level," he concluded.
The assets were acquired by a wholly owned subsidiary of Maponics. Financial details were not disclosed. Maponics customers can be assured that their usage and access to their licensed data remains unchanged. While strategic options and the long-term strategy for the acquired assets are being determined, both Ian White and Maponics are committed to working with Urban Mapping's customers to ensure continuity moving forward.
For more information on Maponics and its advanced spatial data solutions, please visit maponics.com or email Email Contact
Press Contacts:
Jessica Willis
800-762-5158
Email Contact
Logo - http://photos.prnewswire.com/prnh/20150318/182867LOGO
To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/maponics-reinforces-position-in-the-spatial-data-industry-with-the-acquisition-of-certain-assets-of-urban-mapping-inc-300052245.html
SOURCE Maponics
| Contact: |
| Maponics
Urban Mapping, Inc. Web: http://www.maponics.com |
