Over the past seven years 2d3 has created a suite of advanced video and image processing solutions that are used by some of the most important defence organisations in the United States, UK, Germany and the Netherlands.
Sale of 2d3 to Insitu Inc., a subsidiary of The Boeing Company
2d3’s success in the defence market stems from the superiority and responsiveness of its technology and the partnerships it has forged with larger defence contractors. 2d3 has proven its ability to win cornerstone projects with some of the world’s largest defence purchasers, including the US Air Force’s Remotely Piloted Aircraft Squadron Operations Center, the US Navy and the UK MoD’s Defence Science and Technology Laboratory.
Whilst these customer relationships have translated into encouraging revenues in recent years, the size and timing of those revenues can be hard to predict.
The Group and its shareholders will benefit, post disposal, from a lower cost base and a more predictable, visible revenue stream moving forward. It is also the Group’s view that 2d3 could more fully achieve its potential and benefit from competitive advantage as part of a larger, more established organisation.
Since 2009, 2d3 and Insitu Inc. have had a successful OEM relationship and a series of 2d3 products are already embedded within Insitu Inc. solutions. 2d3 has now reached the level of maturity that it is of interest to possible acquirers and the Group believe this sale offers a clear, strategic fit transforming Insitu Inc. from a strong partner to a strong parent for 2d3.
For the RNS announcement click here.
For more information visit www.2d3sensing.com.
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