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Benzinga
Benzinga
Business
Akanksha Bakshi

Atlas Technical Consultants Acquires 1 Alliance Geomatics For Undisclosed Sum

Atlas Pacific Northwest
  • Atlas Technical Consultants Inc (NASDAQ:ATCX) has acquired 1 Alliance Geomatics, LLC, a provider of geospatial services to transportation and water resources markets in the Pacific Northwest. Deal terms were not disclosed.
  • 1 Alliance utilizes the latest geomatics technology, including 3D laser scanning and drones, to provide high-quality and accurate data-driven solutions.
  • "The acquisition of 1 Alliance adds another highly technical service to the Atlas portfolio that aligns with our goal to expand our service offerings with critical services for all infrastructure and environmental projects," commented L. Joe Boyer, Atlas' Chief Executive Officer
  • Jason Nakamura, Brian Blevins, and Jay Byrd, owners of 1 Alliance, to remain with the company following the transaction.
  • ATCX stated that the acquisition is immediately accretive and is deleveraging to Atlas' balance sheet.
  • Atlas Technical held cash and equivalents of $10.69 million as of December 31, 2021.
  • Price Action: ATCX shares closed higher by 0.90% at $12.32 on Monday.
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