March 4, 2010 (FinancialWire) — GeoDigital International Inc. and Aeroquest International Inc. (TSX: AQL) (OTC: AQSFF) said they have entered into a binding agreement under which GeoDigital will acquire the Energy Division of Optimal Geomatics from Aeroquest.

The Canada-based Energy Division is a provider of LiDAR and geospatial engineering services to electrical utilities and related energy companies across North America.

The companies plan to jointly pursue opportunities of mutual interest internationally.

Aeroquest said that the total sale proceeds of the transaction are dependent on working capital at closing, but are expected to be less than CDN$500,000. Management of Aeroquest does not expect the sale to have a material impact on earnings for their current fiscal year.

Canada-based GeoDigital offers airborne mapping for the utility industry and provides solutions for mapping, vegetation inspection and line rating & clearance analysis services to customers across North America. The company has four offices located throughout the United States and Canada.

Aeroquest is a global information and technology services company specialized in the development and operation of airborne geophysics and geomatics survey platforms for the mineral and petroleum exploration, and environmental and infrastructure industries.

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