July 12, 2017 by Canadian Underwriter
The “acquisition of Canada’s market leader in location-based information and data quality expands DMP’s North American footprint,” said a joint press release from both companies. Richmond Hill, Ont.-headquartered DMTI offers a suite of 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 release said.
The acquisition of DMTI enables DMP to continue building its 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, the release said. In the United States, DMP reported that it is a data content provider to four of the six largest real estate websites, two of the top three 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 four of the top five commercial brokerage firms, every top 10 home builder brand, hundreds of city government agencies and the largest state in the union, the release said.
“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. The company’s SpatialStream platform provides customers with real-time access to parcel-level land information covering over 94% of U.S. parcel boundaries. The company also 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.
Paul Franc, general manager of DMTI Spatial, said that the company is excited to join with DMP and “looks forward to taking advantage of the immediate synergies available. 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,” Franc said.
For the acquisition, DMP was advised by Choate, Hall & Stewart LLP and the Toronto office of Norton Rose Fulbright. Financial terms of the acquisition were not disclosed.