Digital Map Products, Inc. (DMP), a portfolio company of Silversmith Capital Partners, has acquired DMTI Spatial from Neopost Canada. Transaction closed on July 11, 2107. Financial terms were not disclosed.
Founded in 1994, Markham, Ontario based DMTI is Canada’s market leader in location intelligence and data quality, offering a suite of location-based intelligence solutions, including CanMap® and LocationHub®, powered by a proprietary database that is continuously updated via more than 7,300 unique data sources. DMTI offers the most comprehensive source of Canadian geolocation data and high precision addresses, trusted by many of the country’s largest private and public sector organizations.
Neopost (Euronext Paris: NEO) acquired DMTI in October 2013.
“We are thrilled to welcome DMTI to the DMP family as we continue to grow our capabilities in location-based technology,” said Jim Skurzynski, chief executive officer at DMP. “Both companies have established a strong history of customer success and technology innovation in our respective markets. And this, combined with a shared belief in the power and accessibility of spatial data, will help DMP expand to serve a fast-growing roster of business and government clients across North America.”
“We are excited to join with DMP and look forward to taking advantage of the immediate synergies available,” said Paul Franc, general manager of DMTI Spatial. “The chance to be joined with a large, fast-moving and innovative company now serving both the U.S. and Canadian markets represents an incredible opportunity for our team and our customers.”
Founded in 2000, DMP is a provider of geospatial mapping technology, applications and content to a variety of end markets, including real estate, government, technology, and utilities. DMP’s SpatialStream® platform provides customers with real-time access to parcel-level land information covering over 94 percent of U.S. parcel boundaries.
In September 2016, Digital Map Products closed a management recapitalization including a $36.3 million investment from Silversmith Capital Partners.
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