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

  • How Florida paved the way for availability payments in the US
    November 21, 2014
    New financing models have been used to deliver key transport links in the US - * Patrick D Harder and Brandon J Davis Florida Department of Transportation’s (FDOT) public-private partnership (PPP) programme has made impressive progress, setting precedents for US transportation planning and funding. On March 26th 2014, FDOT opened 16km of new reversible express lanes as part of its US$1.8 billion I-595 Corridor Roadway Improvements Project. Just a few months later, on August 3rd 2014, FDOT opened twin tunnel
    Read More
  • Construction equipment launched at Bauma China
    February 15, 2012
    The 2010 bauma China event did, as expected, break all previous records, with companies launching more new equipment than ever. Patrick Smith reports. The queues at the entrances on the first day of bauma China 2010 indicated what the rest of the week had in store. As thousands of visitors poured through the gates each day to view the latest in construction equipment at the expanded Shanghai New International Expo Centre, the organisers knew they were looking at another successful event.
    Read More
  • SANY Road Machinery is looking to increase export levels
    March 4, 2015
    SANY Road Machinery says that its machines offer customers a very good return on investment - Mike Woof writes. SANY Road Machinery looks set to boost its profile outside of China. The company has been focussed on the Chinese home market in recent years, due to the massive highway expansion programme in the country. However with 80% of the country’s highway construction programme now complete, SANY Road Machinery is looking to further develop its export business. Wang Zuochun is senior vice president at SAN
    Read More
  • Green is good
    July 19, 2023
    Going green is proving good business for Volvo CE.
    Read More

Highlighted Content