ENGLEWOOD, Colo.—(BUSINESS WIRE)—October 1, 2007— XeDAR Corporation (OTCBB: XDRC) ("XeDAR"), a provider of complex data management and security solutions, today announced that it has acquired Pixxures, Inc. in a Form A stock for stock transaction.
Colorado-based Pixxures is a leading provider of aerial
photographic mapping products and services, direct-digital
orthophotography, planimetric and topographic mapping, vector
alignment, and GIS products and services via the Internet. Pixxures
generated over $5,500,000 in revenues in 2006, and so far in 2007 is
ahead of that revenue generation rate.
As a result of this acquisition, coupled with XeDAR's existing
businesses, XeDAR's revenue run rate is now over $16 million.
According to XeDAR's CEO, Hugh Williamson III, "By adding Pixxures
to our growing portfolio of companies, we are executing our plan of
building XeDAR into a premier information assurance and geospatial
products and services company. Pixxures excels in geospatial data
acquisition, specifically digital aerial imagery, orthophoto
production, and planimetric and topographic mapping, all of which are
critical to our country's homeland defense. We will continue our
strategy of pursuing accretive acquisitions, coupled with strong
According to Pixxures' CEO, Chuck Killpack, "Pixxures has embarked
on an aggressive technology development plan over the last 3 years and
this acquisition allows Pixxures to bring this vision to market as
well as allowing us to cross-sell into XeDAR's existing customer
accounts, while providing a state-of-the-art imagery collection and
production facility for the entire company. Imagery will become the
basis for building and updating the country's large governmental (both
civil and defense) and commercial spatial databases. This acquisition
means Pixxures will be a much larger player."
About XeDAR Corporation
XeDAR Corporation provides systems analysis services to the
federal government, as well as geospatial databases to many of the
world's largest oil companies and the federal government. Its
solutions play a key role in the successful operations of a broad
spectrum of commercial and government organizations. XeDAR's primary
focus is on the technology and the solutions to manage and ensure the
security of complex data and processes. XeDAR operates from offices in
Colorado, Maryland, New Mexico, and Virginia.
The statements included in this news release, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "plan," "seek," or "believe." These
forward-looking statements, which are subject to risks, uncertainties,
and assumptions, may include projections of our future financial
performance based on our growth strategies and anticipated trends in
our business. These statements are only predictions based on our
current expectations about future events. There are important factors
that could cause our actual results, level of activity, performance,
or achievements to differ materially from the results, level of
activity, performance, or achievements expressed or implied by the
forward-looking statements, including, but not limited to: (1)
integration of operations as we acquire companies and (2) our ability
to win additional government business based on the expertise of the
combined companies. In particular, you should consider the risks
outlined under the heading "Risk Factors" in our most recent Annual
Report on Form 10-KSB. Although we believe the expectations reflected
in the forward-looking statements are reasonable, we cannot guarantee
future results, level of activity, performance, or achievements. You
should not rely upon forward-looking statements as predictions of
future events. These forward-looking statements apply only as of the
date of this news release; as such, they should not be unduly relied
upon as circumstances change. Except as required by law, we are not
obligated, and we undertake no obligation, to release publicly any
revisions to these forward-looking statements that might reflect
events or circumstances occurring after the date of this release or
those that might reflect the occurrence of unanticipated events.