PrecisionHawk strengthens positions in energy, insurance markets

PrecisionHawk has purchased HAZON Solutions LLC and InspecTools Inc. to strengthen its position in the energy industry as a provider of drone inspection technology and data analytics.

“By combining these offerings, our customers will have access to extensive and leading-edge energy products and services, regulatory expertise and a record of safe, secure and compliant operations,” said Michael Chasen, PrecisionHawk CEO.

Based in Raleigh, North Carolina, PrecisionHawk also announced a partnership with EagleView Technologies Inc., a provider of aerial imagery and data analytics for the government, insurance and commercial sectors. Headquartered in Bothell, Washington, EagleView will leverage PrecisionHawk’s global network of drone pilots to collect insurance claims using drone imagery and the company’s EagleView OnSite software platform.

“EagleView OnSite provides insurance customers with all the tools necessary to settle claims without ever going into the field,” said Rishi Daga, EagleView CEO. “As drones transform the way the insurance industry operates, making inspections safer, easier and more cost effective, EagleView reinforces its commitment to drone technology to digitize manual workflows.”

HAZON Solutions, located in Virginia Beach, Virginia, specializes in drone inspections for the energy industry. It has conducted more than 13,000 inspections totaling 8,000-plus hours of flight time—a majority focused in energy markets for Fortune 500 utilities.

“By joining PrecisionHawk, our customers gain access to the next level of technological sophistication for more scalable, predictive and cost-efficient drone solutions that drive better business intelligence,” said HAZON Solutions CEO David Culler.

InspectTools of Folsom, California, provides high-fidelity, machine-vision software and data analysis tools for the renewable energy market. Its software for solar panel and wind turbine inspection is used by some of the world’s largest equipment manufacturers and service providers.

Paul Bingaman InspecTools CEO, said, “This relationship further enhances the technologies and services that are fundamental to advancing the economic potential of drones in the energy market.”

Bingaman David Culler will both join PrecisionHawk’s executive leadership team. The acquisitions are expected to close later this month.