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Photo Science and GIS Solutions, Inc.
Jointly Announce the Formation of a Strategic Partnership and
the Sale
of GIS Solutions, Inc.’s
Florida Operations
LEXINGTON, KY - January 4, 2005 – Photo Science, a
nationwide, full-service geospatial solutions provider and GIS
Solutions, Inc. (GSI), a leading provider of Geographic Information
System (GIS) products and services, jointly announced today that
they have entered into a strategic partnership agreement that includes
the signing of a letter of intent for PSI to purchase the assets
of GSI’s Tampa/St. Petersburg, FL business unit. This transaction
will be finalized within the next 30 days.
“We are very excited to announce this partnership and for
the opportunity to include GSI’s Florida business unit into
our growing family” said Photo Science’s President and CEO, G.
Michael Ritchie. “The formation of the partnership is the
culmination of a very successful history between our two firms
and represents our mutual interest in continuing to work together.
Also, the addition of GSI’s Tampa/St. Petersburg based personnel
will add new technical competence to our team, while greatly enhancing
our presence in both the State of Florida and national geospatial
markets.”
“The strategic partnership and the sale of our Florida business
unit marks a major step in our planned efforts to focus our business
on key strategic opportunities” said GSI President, Tim Johnson. “Photo Science
will not only provide strong growth opportunities for our valued
employees, but, working together as a strategic partner, will enable
GSI to position for future growth and expansion.”
About Photo Science: Founded
in 1974, Photo Science is a full-service geospatial firm, specializing
in aerial
imaging and data collection,
photogrammetric mapping, GIS, remote sensing, and surveying services.
Based in Lexington, KY, and with offices located in Philadelphia,
PA; Washington, DC; Bangor, ME; Atlanta, GA; Colorado Springs,
CO; and Orlando and St. Petersburg, FL, Photo Science’s 200
member professional and technical staff are devoted to providing
high quality geospatial products and services to federal, state,
and private sector customers.
About GIS Solutions, Inc.: GIS
Solutions, Inc. is a nationally recognized GIS product and services
company focused on providing the full
spectrum of IT professional services relating to spatial information
systems to federal, state, local and private sector clients. Based
in Springfield, IL, and with offices in Chicago, IL, GSI specializes
in providing custom client solutions for the web and desktop environments
including system design and implementation, applications development,
system integration, and custom programming. For more information,
please visit www.gis-solutions.com.
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Media Contact: Kris Kadlec
Email: kkadlec@photoscience.com
Phone: 301-262-9400
Headquarters:
2670 Wilhite Drive
Lexington, KY 40503
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