Rizing, a Stamford, Conn.-based SAP functional and technical firm, has acquired Charlotte-based Transcend Spatial Solutions, a 2010-born Geographic Information System services and solutions company. Terms of the deal were not disclosed.
A statement on the move specified that together, the two entities will leverage their abilities to better "harness location data," ultimately providing a competitive advantage.
This deal was always about presenting to the market a more comprehensive vision of geospatially enabled enterprise asset management," said Noel Fagan, CEO Vesta Partners, a Rizing company. "Marrying spatial tools and processes into enterprise asset management functions across our traditional industry base in the transport, utilities and oil and gas space has been a long-standing goal."
Transcend leadership echoed Rizing's excitement on the move.
"This merging of industry knowledge and experience will provide our long-term valuable clients with access to exciting new technologies and talented resources," said Transcend President Connie Gurchiek. "The partnership between Rizing and Transcend is less about radically changing either firms' customers, solution sets or development roadmaps. Together, the combined companies will deliver leading-edge solutions to advance the combined use of enterprise and geospatial data."
