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Septentrio and Altus Announce Expansion of Strategic Relationship

July 8, 2011  - By
Image: GPS World

Septentrio Satellite Navigation NV and Altus Positioning Systems today announced that the two companies are expanding their strategic relationship to pursue growth opportunities in the high-precision satellite-based surveying sector.

Septentrio is a manufacturer of high-end Global Navigation Satellite System (GNSS) receivers for professional navigation, positioning, and timing applications. Altus is an international supplier of GNSS equipment for survey applications. Both are privately held companies.

Under the agreement, Septentrio is making a substantial investment in Altus through its U.S. subsidiary, Septentrio Inc., which is jointly owned by Septentrio Satellite Navigation NV, and by the Belgische Maatschappij voor Internationale Investering – Société Belge d’Investissement International (BMI-SBI) / Participatiemaatschappij Vlaanderen (PMV), a Belgium-based investment consortium.

“The investment in Altus is an exciting new step in the life of Septentrio,” said Peter Grognard, founder and CEO of Septentrio. “Surveying has traditionally been the largest segment of the professional GNSS industry. Both in traditional and emerging markets, the survey segment has continued to enjoy double-digit growth rates in recent years, and our investment in Altus will further accelerate our growth and expand our global presence in this key industry sector.

“Since the surveying community demands the highest-possible performance in precise measurements, it is a very important driver for GNSS technology,” Grognard said. “Our expanded relationship with Altus will help us refine and improve our products to meet these exacting standards, which will benefit other markets as well, and will create a closer bond between the technology and the marketplace.”

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