Subsequent events

6 Months Ended

Jun. 30, 2020

Subsequent events

Subsequent events

18. SUBSEQUENT EVENTS

Acquisition of Vricon

The Company’s most significant joint venture is Vricon Inc. (“Vricon”), a joint venture with Saab AB, specializing in the production of 3D models using high resolution imagery. The Company has an ownership interest of approximately 50% in Vricon. On June 25, 2020, the Company exercised its call option to purchase the remaining 50% ownership interest in Vricon (“Vricon Acquisition”) for approximately $140 million, excluding Vricon cash on hand of $23 million, or approximately $117 million net of estimated cash at closing. The Vricon Acquisition closed on July 1, 2020. Due to the timing of the Vricon Acquisition, the Company is unable to reasonably estimate the impact of the acquisition on the consolidated financial statements.