NV5 Acquires Mediatech Design Group, Strengthening International Technology and Engineering Design Capabilities
HOLLYWOOD, Fla., July 07, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has reached a definitive agreement to acquire Mediatech Design Group (“Mediatech”), a technology company providing security, enterprise IT, and building technology solutions in the Middle East and North Africa (MENA) region and South East Asia. Mediatech is headquartered in Dubai and is a leader in technology design services for the hospitality, industrial, healthcare, commercial, retail, and convention center markets. The addition of Mediatech strengthens NV5’s technology services and expands NV5’s Dubai office to 40 full-time equivalent employees.
Dickerson Wright, PE, Chairman and CEO of NV5, said, “Mediatech is the Middle East’s leading independent technology and security consultancy with expertise in information communications technology, audiovisual, building intelligence, and security services. There is great synergy with NV5’s existing engineering operations in Dubai, Hong Kong, and Malaysia. It strengthens our multidisciplinary engineering solutions for large scale projects and opens new geographies for NV5 in the MENA region and South East Asia.”
Mediatech has performed technology design services on a variety of large-scale projects through performance oriented technology solutions. Examples of projects that Mediatech has delivered include audiovisual and multimedia commissioning services for the Doha Convention Center, information and communications technology and audiovisual design for the National Disaster Recovery Center in Oman, and security system design at the Mashreq Bank Headquarters in Dubai.
“Mediatech is a great fit for NV5 International’s strategy of strengthening the platform, growing international revenue, and diversifying our technical expertise and geographical client base,” said Ivor Jarman, Executive Vice President of International Operations at NV5.
“Joining NV5 propels Mediatech Design Group to a new plateau for our clients and the Mediatech team,” said Ged King, CEO of Mediatech Design Group. “As the newest member of NV5, we can now service clients on an international basis through NV5’s network of experienced and talented professionals with an enhanced portfolio of services and solutions while providing exciting, new growth opportunities for our staff.”
About Mediatech Design Group
Founded in 2001, Mediatech Design Group is an award winning independent consulting firm and specializes in technology design for the built environment. Mediatech is a specialist consulting engineering firm and a recognized leader in the provision of forward-thinking technology design solutions for clients in the hospitality, retail, corporate, government, education, and sport sectors.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering, geotechnical, and consulting solutions ranked #27 in the Engineering News-Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, utility services, program management, and environmental solutions. The Company operates out of more than 100 locations worldwide. For additional information, please visit the Company’s website at . Also visit the Company on , , and .
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
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Source: NV5 Global, Inc.
