IRVINE, Calif. – Digital Map Products, Inc. (DMP), a pioneer in geospatial mapping technology and intelligence, has acquired DMTI Spatial (DMTI) from Neopost Canada. 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.
The acquisition of DMTI enables DMP to continue building the leading cloud-based platform in geospatial intelligence, supporting DMP's plans to expand its geographic footprint, broaden its suite of geospatial mapping solutions, and strengthen its blue-chip client base. In the U.S., DMP is a data content provider to 4 of the 6 largest real estate websites, 2 of the top 3 multiple listing service (MLS) companies, the two largest gas and electric utility companies as well as a host of navigation and location-driven technology companies. Additional U.S. enterprises supported by the power of DMP's geospatial mapping technology, applications and content include 4 of the top 5 commercial brokerage firms, every top 10 home builder brand, hundreds of city government agencies and the largest state in the union.
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.
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. The company recently received a strategic growth investment from Silversmith Capital Partners and is actively using the capital to continue investing in its proprietary land ownership database and accompanying workflow tools.
DMP and DMTI are well-aligned in their long-term vision of democratizing geospatial technology and content for use by non-technical users. By embedding mapping technology and data into everyday business processes, both companies enable these non-technical users in various functional areas to leverage the value of location intelligence. In addition to bolstering its product suite and geographic footprint to better serve its growing customer base, DMP is excited to add the talented staff from DMTI to its growing team.
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.
DMP was advised by Choate, Hall & Stewart LLP and the Toronto office of Norton Rose Fulbright. Financial terms of the acquisition were not disclosed.
About Digital Map Products
Digital Map Products, headquartered in Irvine, CA, is the leading provider of cloud-based location technology and content solutions that bring the power of spatial technology to over 350,000 mainstream business, government and consumer users. SpatialStream®, the company's spatial development platform, enables API access to mapping technology and location data sets. Its SmartParcels® nationwide parcel and property data sets provide unparalleled location context, accuracy and interactivity. The company's SaaS products include LandVisionâ„¢ for real estate and GovClarity® for local government. For more information, visit www.digmap.com.
About DMTI Spatial
DMTI Spatial, headquartered in Markham, ON, is the Canadian market leader in location-based information and data quality. For more than 20 years, DMTI Spatial has been providing industry-leading location economics and Master Address Management (MAM) solutions to Global 2000 companies and government agencies. DMTI Spatial is the creator of market-leading CanMap® mapping solutions and Location Hub®, maintaining the gold standard for GIS location-based data in Canada. For more information, visit www.dmtispatial.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $460 million of capital under management. Silversmith's mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Digital Map Products, Impact Radius, Nordic Consulting Partners, and Partners Surgical. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey, and Yapstone. For more information, visit http://www.silversmithcapital.com/.
