NovAtel Inc. Acquires Waypoint Consulting

NovAtel Inc. has acquired Waypoint Consulting Inc., for approximately US$ 2.7 million in cash. Waypoint is a precise positioning software company that produces real-time and post-processing position determination software using input from precision GPS and GPS/inertial systems.
The acquisition of Waypoint is expected to immediately broaden NovAtel's base of core precise positioning technology. NovAtel plans to leverage Waypoint's proven products, intellectual property and expertise across a number of market applications.
NovAtel expects the acquisition of Waypoint will contribute approximately US$ 1.7 million revenue on an annual basis.