Date: Oct 02, 2007 Source: Company Data (
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ENGLEWOOD, Colo.-- XeDAR Corporation (OTCBB:XDRC) ("XeDAR"), a provider of complex data management and security solutions, today announced that it has acquired Pixxures, Inc. in a Form A stock for stock transaction.
Colorado-based Pixxures is a leading provider of aerial photographic mapping products and services, direct-digital orthophotography, planimetric and topographic mapping, vector alignment, and GIS products and services via the Internet. Pixxures generated over $5,500,000 in revenues in 2006, and so far in 2007 is ahead of that revenue generation rate.
As a result of this acquisition, coupled with XeDAR's existing businesses, XeDAR's revenue run rate is now over $16 million.
According to XeDAR's CEO, Hugh Williamson III, "By adding Pixxures to our growing portfolio of companies, we are executing our plan of building XeDAR into a premier information assurance and geospatial products and services company. Pixxures excels in geospatial data acquisition, specifically digital aerial imagery, orthophoto production, and planimetric and topographic mapping, all of which are critical to our country's homeland defense. We will continue our strategy of pursuing accretive acquisitions, coupled with strong organic growth."
According to Pixxures' CEO, Chuck Killpack, "Pixxures has embarked on an aggressive technology development plan over the last 3 years and this acquisition allows Pixxures to bring this vision to market as well as allowing us to cross-sell into XeDAR's existing customer accounts, while providing a state-of-the-art imagery collection and production facility for the entire company. Imagery will become the basis for building and updating the country's large governmental (both civil and defense) and commercial spatial databases. This acquisition means Pixxures will be a much larger player."
About XeDAR Corporation
XeDAR Corporation provides systems analysis services to the federal government, as well as geospatial databases to many of the world's largest oil companies and the federal government. Its solutions play a key role in the successful operations of a broad spectrum of commercial and government organizations. XeDAR's primary focus is on the technology and the solutions to manage and ensure the security of complex data and processes. XeDAR operates from offices in Colorado, Maryland, New Mexico, and Virginia.
