Chinese company buys GNSS and GPS specialist Hemisphere

A key industry move comes with the news that Hemisphere GPS now has a new Chinese owner following a US$15 million acquisition. The deal was carried out by Hemisphere GNSS, a subsidiary of Beijing UniStrong Science & Technology (UniStrong), which purchased the Precision Products business and related GNSS technology and intellectual property from Hemisphere GPS. Meanwhile, Hemisphere GPS intends to change its company name to AgJunction. As part of the transaction, Hemisphere acquired the entire high-precision
February 5, 2013 Read time: 2 mins
A key industry move comes with the news that 2895 Hemisphere GPS now has a new Chinese owner following a US$15 million acquisition. The deal was carried out by Hemisphere GNSS, a subsidiary of Beijing UniStrong Science & Technology (UniStrong), which purchased the Precision Products business and related GNSS technology and intellectual property from Hemisphere GPS. Meanwhile, Hemisphere GPS intends to change its company name to AgJunction. As part of the transaction, Hemisphere acquired the entire high-precision GNSS product lines, all related intellectual property rights and the Hemisphere GPS trademarks and brands. Hemisphere will operate its business headquarters out of Scottsdale, Arizona and will maintain its operations in Calgary, Alberta, Canada. With this acquisition, UniStrong is expanding its capabilities in the high-precision GNSS business and also expects to promote commercial applications of China’s BeiDou Navigation System (BDS). UniStrong is listed on the Shenzhen Stock Exchange. This is of note as it is the first acquisition of a major international firm by a Chinese satellite navigation business and represents an important milestone in the development of the industry. As part of the agreement, Hemisphere and AgJunction have formed a strategic alliance and a collaborative business relationship covering supply chain management, customer support, technology development and cross-licensing.

For more information on companies in this article

Related Content

  • GPS guidance delivers accurate machine control
    July 12, 2012
    GPS systems for machine control can make massive reductions in operating costs for contractors. Using GPS systems for machine control can make massive reductions in operating costs for contractors and the pace of technology improvements from manufacturers has been rapid. This market segment is dominated by Leica Geosystems, Trimble and Topcon, all of which introduced an array of new products earlier this year. Topcon's dozer control system first seen in public at the Intermat show in Paris, offers notable c
    Read More
  • New solutions, new competition
    May 29, 2012
    The early part of 2012 will see a whole host of new technology coming to market, as manufacturers introduce their latest models and solutions. At the same time, the construction equipment market is also seeing an increase in competition, with Chinese firms making serious inroads into the global supply sector. These new technologies and new competitors will ensure that the construction equipment sector will see major changes during this year. From a technical viewpoint, one of the biggest technical challenge
    Read More
  • Chinese highway project under construction
    February 9, 2017
    China’s infrastructure expansion programme is in the process of transforming the country. Meanwhile its construction market is the largest in the world, comprising around 25% of the country’s US$11 trillion economy. However, slowing domestic growth in recent years has encouraged the Chinese Government to invest in key infrastructure projects in a bid to improve the country’s transport connections.
    Read More
  • Chinese firms now offering all-electric cars
    June 21, 2013
    Chinese firms Geely Automotive and Kandi have jointly developed an all-electric vehicle. The JL7001BEV model has won official approval from China’s Ministry of Industry and Information Technology. This is of note as it means Chinese buyers of the vehicle will be able to benefit from several national and local subsidies and incentives for EVs. The new JL7001BEV model is among those on the lists of Approved Vehicles. The Chinese authorities are keen to encourage customers to buy more electric vehicles in a bi
    Read More

Highlighted Content