PITTSBURGH — (BUSINESS WIRE) — September 28, 2009 — Geospatial Holdings, Inc. (OTCBB: GSPH) and Infrastructure Technologies (I.T.) have entered into a strategic alliance to jointly market Geospatial Corporation’s three-dimensional (3D) digital pipeline mapping technologies and I.T.’s infrastructure inspection software and services.
Combining the companies’ technologies will enable municipalities and other government agencies, engineers, and pipeline and utility owners/operators to accurately map and manage their 3D underground pipeline data while providing the ability to coordinate and schedule inspections, operations and maintenance planning, and rehabilitation activities with full assessment capability.
“The combination of our technologies will revolutionize pipeline mapping processes for clients and take asset management to the next level with fully accurate XYZ coordinates,” said Al Rossmeisl, CFO for I.T. “Geospatial’s Smart Probe™ data collection can be performed simultaneously with cleaning and TV maintenance inspections. For existing pipe or new construction, these combined technologies provide a previously unavailable level of proof and validation for as-built drawings, confirming pipe locations within their easements, and providing accurate mapping of meander and inclination grades.”
Mark Smith, Geospatial’s CEO stated, “We are looking forward to working with Al Rossmeisl and Cori Criss, President of I.T. They are true professionals and their I.T. Software Suite is positioned to revolutionize the infrastructure asset inspection process and data management.”
Geospatial and I.T. will integrate the services of acquiring exact spatial data coordinates for asset management to aid in budgetary planning, inspection and implementation of infrastructure operations and maintenance programs.
About Geospatial Holdings, Inc.
Geospatial Holdings, Inc., through its wholly-owned subsidiary Geospatial Mapping Systems, Inc., doing business as Geospatial Corporation ( www.geospatialcorporation.com) utilizes proprietary technologies to determine the accurate location and position of underground pipelines, conduits and other underground infrastructure data. This allows Geospatial to create accurate 3D digital maps and models of all underground infrastructure assets.
GeoUnderground, the company's powerful geographic information system (GIS) database, enables users to view and use 3D pipeline mapping information securely from any desktop, laptop or PDA such as a Blackberry or an iPhone. GeoUnderground seamlessly integrates with all known technologies gathering above-ground geo-referenced digital information and all standard GIS databases.
Licensed users, for the first time, have available to them a suite of technologies allowing them to collect data and create highly accurate 3D maps and models of both above-ground and below-ground infrastructure and view and share this invaluable information in a secure manner with their peers and associates anywhere in the world through a conventional browser via the internet.
Geospatial, through its proprietary data acquisition technologies and its GeoUnderground web-based portal, is building the underground version of Google Earth.
About Infrastructure Technologies, LLC.
I.T. ( www.itpipes.com) provides infrastructure inspection software, with implementation and related consulting services to municipalities, engineers, contractors and utilities.
I.T.’s inspectIT core license facilitates full underground asset inspection reporting and management, all with an easy-to-use interface that automates and streamlines the field collection process. I.T. Software Suite licensed users have access to modules for various asset types including manholes, laterals, mainline pipes, and other underground features. I.T. enables users to effectively manage unlimited inspections for any asset and access the information easily by launching viewIT from their desired application. Analysis modules provide comprehensive tools for planning, billing, budgeting, and operations and maintenance reporting. An assortment of GIS modules make integration options available that meet specific project requirements.
I.T. personnel have worked with thousands of software users to revolutionize pipe inspection and data management. The company’s regional consultants provide superior implementation and training services to fully integrate the I.T. Software Suite with clients’ GIS, Asset Management Software (AMS), or Computerized Maintenance Management Software (CMMS) applications.
A privately-owned company, I.T. has provided successful solutions to some of America’s most challenging municipal and contracting projects. This experience is evident in the I.T. Software Suite and the company’s commitment to excellent technical support, consulting and training.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Company's beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on management's beliefs, assumptions, estimates and projections and are not guarantees of future events or results. When used in this document, the words "anticipate," "estimate," "believe," "plan," "intend," "may," "will" and similar expressions are intended to identify forward looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the "Risk Factors" section of the Company's Annual Report on Form 10-K. for the year ended December 31, 2008 and in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Report on Form 8-K filed with the Commission. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. In addition, our actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, we do not assume a duty to update forward-looking statements whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by the Company from time to time in its periodic filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by the Company in this news release are qualified by these cautionary statements.
