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Over a year ago, WGI doubled down on our commitment to innovation and technology, establishing WGI Ventures. It provides a platform outside of our base consulting businesses where technology-focused infrastructure companies can flourish, act autonomously, and simultaneously leverage the talent and resources of the broader WGI, Inc. (WGI) platform. WGI Ventures’ first investment was a minority investment in Jacksonville-based Urban SDK, a data analytics and predictive-intelligence platform dedicated to increasing safety and traffic flow on roadway networks.
We are very happy to share that on December 31st, we closed the acquisition of Winter Park, Florida-based software firm Streamline Technologies, Inc. Streamline is nationally recognized for its flagship water-modeling software, known as “Interconnected Channel and Pond Routing,” or “ICPR.” Streamline’s ICPR modeling software is used by WGI and over 1,000 clients including many ENR 500 firms, as well as countless federal, state, and local agencies, and universities.
The foundation of this acquisition started nearly three years ago around some simple conversations on the future of the business and the growing demand for flood forecasting. Thanks to genuine relationship-building between WGI SVP/Chief Strategy Officer Michael Davis and Streamline President Pete Singhofen, we built a bridge to a deal that involved numerous virtual and in-person meetings, financial due diligence, and a detailed evaluation of the cultural fit between the two firms. On January 1, 2022, Streamline officially became part of WGI Ventures.
Strategically, this is significant as WGI Ventures’ first software acquisition. It supports our commitment to sustainability and resiliency, and it builds upon our core capabilities in civil engineering, water resources, drainage engineering, and environmental engineering. It also has many opportunities for collaboration with our geospatial and GIS technologies. We firmly believe the Real Time Flood Forecasting (RTFF) software that is currently being evaluated in major pilot projects will substantially improve our ability to predict and mitigate the rapidly rising costs of flooding damage -- currently estimated to approach $20 billion annually.
Streamline was founded in 1984 by Pete Singhofen, PE, who will continue to lead the Streamline team, which includes programming, engineering, and business professionals. Our investment in Streamline will concentrate on growth, stability, and the resources to scale sustainably. Key near-term areas of focus are modeling enhancements, new product offerings, and a soon-to-be-released, RTFF system.
The acquisition of Streamline is a direct reflection of WGI’s Core Values: Passion for People, Be the Change you seek, Commit to Greatness.
Please join us in warmly welcoming the associates from Streamline Technologies to the WGI family!
The foundation of this acquisition started nearly three years ago around some simple conversations on the future of the business and the growing demand for flood forecasting. Thanks to genuine relationship-building between WGI SVP/Chief Strategy Officer Michael Davis and Streamline President Pete Singhofen, we built a bridge to a deal that involved numerous virtual and in-person meetings, financial due diligence, and a detailed evaluation of the cultural fit between the two firms. On January 1, 2022, Streamline officially became part of WGI Ventures.
Strategically, this is significant as WGI Ventures’ first software acquisition. It supports our commitment to sustainability and resiliency, and it builds upon our core capabilities in civil engineering, water resources, drainage engineering, and environmental engineering. It also has many opportunities for collaboration with our geospatial and GIS technologies. We firmly believe the Real Time Flood Forecasting (RTFF) software that is currently being evaluated in major pilot projects will substantially improve our ability to predict and mitigate the rapidly rising costs of flooding damage -- currently estimated to approach $20 billion annually.
Streamline was founded in 1984 by Pete Singhofen, PE, who will continue to lead the Streamline team, which includes programming, engineering, and business professionals. Our investment in Streamline will concentrate on growth, stability, and the resources to scale sustainably. Key near-term areas of focus are modeling enhancements, new product offerings, and a soon-to-be-released, RTFF system.
The acquisition of Streamline is a direct reflection of WGI’s Core Values: Passion for People, Be the Change you seek, Commit to Greatness.
Please join us in warmly welcoming the associates from Streamline Technologies to the WGI family!
Click here to read the full press release with media contact information.