Mountain View, California – Google Inc. has entered into an agreement to acquire Skybox Imaging for $500 million in cash, subject to adjustments.
Skybox’s satellites will help keep Google Maps accurate with up-to-date imagery. Over time, Google also hope that Skybox’s team and technology will be able to help improve Internet access and disaster relief, areas of long interest to Google. In April, Google acquired drone maker Titan Aerospace.
Five years ago, Skybox built and launched a small high-resolution imaging satellite, which collects images and video daily.
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Skybox and Google both are engaged in making information (such as geospatial information) accessible and useful.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US.
Sources: Google, Skybox Imaging
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