Verisk to acquire PASCO’s aerial survey business

Jersey City-based Verisk, a data analytics provider, announced Wednesday it has agreed to acquire Philadelphia-based Keystone Aerial Surveys Inc., an aerial survey business part of the PASCO group of companies.

The acquisition will expand on Verisk’s aerial survey services, it said. Under terms of the deal, Keystone will become a part of Verisk’s Geomni business unit.

“Bringing in Keystone is one more step demonstrating our deep commitment to constantly source fresh imagery and provide our customers with more innovative and technologically superior geospatial solutions,” Jeffrey C. Taylor, president, Geomni, said. “For Keystone employees and customers, it’s business as usual-but now with the support of Geomni and Verisk.”

Geomni, based in Lehi, Utah, is an operator of fixed-wing aircraft fleets throughout the U.S.

“We want Keystone customers to know that they are still our top priority. Keystone is-and will continue to be-dedicated to providing the best services and support for our customers,” Keystone President John Schmitt said. “This new venture will give Keystone resources to expand our offerings and better serve our customers.”

The deal is expected to close at the end of July. Financial terms were not disclosed.