Minneapolis-based ObjectFX, which has a strong defense-industry position with mapping and location-based software, announced Monday that it has been acquired by TransVoyant LLC, an Alexandria, Va.-based private equity firm.
Terms of the deal were not disclosed, but the headquarters of ObjectFX will remain in Minneapolis, the 17-year-old company said. ObjectFX already has offices in Alexandria, across the Potomac River from Washington, D.C.
ObjectFX marketing director Heather Crotty also said that staffing levels at the Minneapolis headquarters will increase but no final decisions have been made. She declined to disclose revenue or the number of employees.
"Because this is a private deal, there isn't too much we can share at this point," Crotty said
ObjectFX develops software for mapping, vehicle routing and other location-based services.
ObjectFX said its software provides spatial and temporal data for intelligence gathering, risk monitoring and monitoring and improving operations.
Its clients include Boeing, General Dynamics, Lockheed Martin, the U.S. Army and United Airlines.
David Hemphill, who will continue as chief technology officer at ObjectFX, said new products developed by the company will help "key user groups" in defense, intelligence and law enforcement.
