RALEIGH – Field Group, a Europe-based company focusing on what it calls “digital reality services,” recently acquired Raleigh-based Precisionhawk, a company that secured $136 million millions from investors and built a customer base of Fortune 500 firms while also pioneering drone technology such as beyond line of sight control.
Financial terms of the deal weren’t disclosed.
Precisionhawk, which launched in 2010, will remain in Raleigh but its name will be changed to Field by year’s end, the new owner said in the announcement.
Field says it combines “software, sensors, and autonomous technologies, Field put data to work to boost efficiency and reliability within the infrastructure, construction, environment, and public sectors.
Field expands to the US, buying AI drone-tech company PrecisionHawk
“We’re on a mission to build and maintain a better tomorrow with smarter and more sustainable insights from geospatial data. We’re excited to be merging our products and technology to deliver world-class infrastructure management solutions to customers across the US, Europe and beyond,” said Field CEO Cato Vevatne.
Field said the combined firm offers “exciting new inspection and analytics solution to the United States infrastructure and energy sectors” by combining “proprietary software and revolutionizing inspection technology using artificial intelligence and machine learning.”
