ARTEMIS ANNOUNCES ACQUISITION OF SIGHTLINE APPLICATIONS
PORTLAND, Ore. and HOOD RIVER, Ore., July 6, 2023 /PRNewswire/ -- Artemis ("the Firm"), a Boston-based private equity firm focused exclusively on partnering with differentiated industrial tech companies, announced today the acquisition of SightLine Applications ("SightLine", or "the Company"), a leading developer of image processing electronics and software products that enable the success of Intelligence, Surveillance and Reconnaissance (ISR) and Counter-Unmanned Aerial Systems (C-UAS) missions across complex domains.
For over 15 years, SightLine has delivered field-proven, on-board, AI/ML-enabled video processing solutions optimized for missions performed at the tactical edge. With millions operating hours and more than 35,000 license installations, SightLine has built a reputation as a trusted expert partner to its OEM, Prime Integrator and Government customer base by offering a compelling value proposition of highly configurable and interoperable products combined with deep application engineering expertise across a range of gimbal, unmanned aerial systems (UAS), unmanned ground vehicle (UGV) and pan-tilt-zoom (PTZ) electro-optical platforms.
Artemis Operating Partner, Bill Pezza, spoke of the SightLine acquisition stating, "Leveraging Artemis' experience in aerospace, defense and industrial markets and track-record with electro-optical and autonomous technologies, SightLine represents a high-growth opportunity and a natural fit within the Artemis portfolio."
Artemis Prinipal, Euan Milne, commented, "We are delighted to partner with Steve Olson and Jordan Holt, and the entire SightLine team, as we embark on the next phase of SightLine's growth. As an established market leader in edge video processing with a talented team and blue-chip customers, we believe SightLine is well positioned to benefit from the anticipated growth in unmanned real-time applications in defense and commercial markets. We could not be more excited about the future of SightLine."
Steve Olson, Co-Founder and President of SightLine, expressed his enthusiasm for the partnership, stating, "We are confident that joining forces with Artemis will enable SightLine to capitalize on new growth opportunities and accelerate our organizational and technology roadmap development. Artemis' industry knowledge, shared values and commitment to our vision will undoubtedly help us enhance our product offerings and better serve our customers."
Jordan Holt, Co-Founder and CTO of SightLine, also shared his thoughts on the acquisition, saying, "We are excited to embark on this new chapter with Artemis as our strategic partner. Their strong focus on innovation, aligns perfectly with our mission to deliver cutting-edge video processing solutions for our customers' most demanding applications. We look forward to the future success and expansion of SightLine in partnership with Artemis."
Under Artemis' ownership, SightLine will continue to operate as an independent company from its facilities in Portland, and Hood River, Oregon with customers across the globe.
Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo served as legal advisor to Artemis. Philpott Ball & Werner, LLC served as the investment banking advisor to SightLine, and Perkins Coie served as legal advisor to SightLine.
SightLine Applications is an Oregon-based company that provides on-board video processing solutions that are a key mission-enabling technology in gimbal, unmanned aerial systems (UAS), unmanned ground vehicle (UGV) and pan-tilt-zoom (PTZ) electro-optical platforms. Founded in 2007, SightLine has a base of over 30,000 installs and licenses and maintains deep engineering know-how which allows for a strong understanding of core, end-user applications and markets.
Headquartered in Boston, MA, Artemis is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable a healthier, safer, more connected, productive, and equitable world. For more information on Artemis, please visit: www.artemislp.com.
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SOURCE Artemis Capital Partners
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