Geospace Technologies Corporation acquires Quantum Technology Sciences
Geospace Technologies of Houston, TX announced on July 30 that it has acquired all of the outstanding common stock of Quantum Technology Sciences, Inc., a Florida-based tactical security and surveillance systems solutions provider (“Quantum”). Quantum’s operations will remain in Florida, performing as a wholly-owned subsidiary of Geospace Technologies Corporation.
Quantum has more than 27 years as a U.S. federal contractor supporting Department of Defense, Department of Homeland Security, Department of Energy, and other agencies with geophysical sensing research and development. Quantum spent nearly a decade developing a proprietary detection system called SADAR, the seismic-acoustic equivalent to RADAR and SONAR. This technology detects, identifies, locates, and follows activities of interest in real-time, such as pedestrians, vehicles, motorized watercraft, and subterranean activity. Using SADAR, Quantum has grown to become a recognized leading innovator in seismic acoustic detection and ranging technology. This proven technology has numerous security applications, including cross-border tunneling detection.
Regarding the acquisition, Walter (“Rick”) Wheeler, president and CEO of Geospace Technologies, said, “This acquisition further diversifies our business outside the oil and gas industry while helping to fulfill our growth ambitions in the border and perimeter security markets. We believe Quantum stands out as the preeminent innovator of unique products and solutions incorporating seismic acoustic technologies in the protection of international borders and other critical infrastructure found in both governmental and commercial settings. The intelligent products and services developed by Quantum are complementary to every aspect of Geospace’s advanced engineering, manufacturing, and field support operations. With our combined resources, we believe Quantum gains significant leverage in accelerating its product penetration within the physical security markets. As our combined research and development teams work together on the integration of our respective technologies for the future, we expect to create a true force multiplier advancement in product capabilities for these markets that far exceeds any existing product offerings. The combination of Geospace’s large scale acquisition system designs and Quantum’s algorithmic security solutions will provide a unique and powerful border security tool for both marine and land applications. Quantum’s security and perimeter market expertise and customer knowledge will help accelerate Geospace’s entry into this market. We believe the market opportunities for these products and the solutions they provide are vast, and the strategic acquisition of Quantum will help secure our future stability and potential growth.”
Mark Tinker, Quantum’s CEO, said, “We are excited to be part of the Geospace family. This transaction is ideal as it brings together two highly complementary companies. Geospace’s decades of manufacturing and deploying hardened geophysical acquisition systems and Quantum’s 20 years of innovating acquisition and algorithmic solutions to serve unusual and challenging applications means our combined customer base will now have the complete vertical spectrum of seismic-acoustic products available to them. My mind is racing with where we can take the next-generation of valuable seismic acoustic applications.”
Source: Geospace Technologies