EagleView's owners explore sale of aerial imagery provider -sources
By Milana Vinn
(Reuters) - The private equity owners of EagleView Technologies are exploring a sale of the provider of aerial imagery and data analytics services that could value it at about $2 billion, including debt, according to people familiar with the matter.
Vista Equity Partners and Clearlake Capital, the owners of EagleView, have hired investment banks William Blair and Rothschild & Co to advise the company on its sale process, the sources said, requesting anonymity as the matter is confidential.
EagleView generates about $300 million in revenue and 12-month earnings before interest, taxes, depreciation, and amortization (EBITDA) of $165 million, the sources said.
Clearlake and Vista declined to comment. EagleView and Rothschild did not immediately respond to requests for comment.
In 2015, Vista took a majority stake in EagleView. In 2018, Clearlake bought a significant stake from Vista, becoming an equal owner in EagleView.
Bellevue, Washington-based EagleView Technologies is a provider of software that can be used to measure rooftops with satellite images from the sky, mainly used by insurance companies to make more accurate decisions.
The company is utilizing a vast library of images and its patented 3-D measurement software to provide software tools to customers in industries such as insurance, construction, government and public utilities.
In the past, the company's tools have been used to help improve police and fire department response times and also to help cities prepare for emergencies and natural disasters.
(Reporting by Milana Vinn in New York; Editing by Marguerita Choy)