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Nearmap Ltd – US Acquisition Of Roof Geometry Technology

Jordan Baird

Jordan Baird is the head ASR Wealth Advisers client services desk and has been with the organisation since 2017. He first started investing in his early years. While he believes that investors should leave no stone unturned he has a particular interest in trading based on broad macroeconomic trends along with specific analysis of innovative up-and-coming companies.

Nearmap Ltd (ASX: NEA) is a technological company that specialises in high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. Nearmap has a market capitalisation of A$1.2 billion.


Perth,stadium, gif, Burswood, WA

Perth stadium aerial imagery ( https://www.nearmap.com/)


What is Nearmap’s recent announcement?

Today (12 December 2019) Nearmap announced it has acquired technology and intellectual property from Primitive LLC (Pushpin), a deep learning and analytics technology company that extracts data to provide roof geometry insights. Nearmap notes that the new technology allows Nearmap to rapidly extract and disseminate roof geometry from its side scale 3D content and offer a new type of location intelligence to customers.

Nearmap’s management notes:

By acquitting Pushpin’s 3D geometry extraction technology and paring it with our rich data, we bring the bet of both worlds together at unprecedented scale.

The acquisition cost US$3.5 million and is expected to provide additional revenue growth for Nearmap soon.

What is the market reaction?

The market initial reaction to Nearmap’s announcement is slightly negative. Nearmap is down 1.5% and is currently trading at A$2.56 (10.20am). However, it is important to note that the ASX 200 is down today by around 0.16%.




This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.

ASR has no position in any of the stocks mentioned.


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