Chesapeake Technology International has purchased Rapid Imaging Technologies for an undisclosed sum to grow CTI’s product offerings for the defense and intelligence sectors.
CTI said Thursday the purchase brings in a patented situational awareness platform that adds geospatial augmented reality overlays to real-time, full-motion videos
Middleton, Wisconsin-based Rapid Imaging builds geospatial AR tools and algorithms designed to support object tracking, detection and classification.
The acquisition comes nearly two years after Bluestone Investment Partners invested in CTI , which develops software products and systems for military and security applications.
Dustan Hellwig , founder and chief strategy officer of CTI, said the transaction aligns with the company’s mergers and acquisitions growth strategy and strategic vision set as part of its partnership with Bluestone.
The U.S. Navy has awarded 29 companies spots on a potential $400 million IDIQ for exercise design and engineering support.
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