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Flight Landata Inc., a North Andover-based provider of aerial remote sensing technologies, has been acquired by KEYW Corp. (Nasdaq: KEYW) for $30 million in cash, the companies announced.
Founded in 1991, Flight Landata grew its revenue from $8.7 million in 2008 to $22 million in 2010, according to the companies. The company’s CEO is Jeffrey Smith, a former partner at NextBoston Investment Partners LLC. Smith joined Flight Landata in March of 2009, coming from a role as CEO of Lenox-based KWI International Inc.
Flight Landata develops and manufactures high-resolution airborne digital imaging systems used for aerial mapping and intelligence gathering, surveillance and reconnaissance information. The company says the U.S. military uses its BuckEye system in Iraq and Afghanistan to detect roadside bombs and other threats.
Maryland-based KEYW operates in the geospatial intelligence industry, which is concerned with high-tech map making. With the purchase of Flight Landata, KEYW has now made four acquisitions since going public in October.
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