Tuesday, June 10, 2014

#Google buys Skybox Imaging for USD 500 mn

Google has entered into an agreement to buy satellite maker Skybox for USD 500 million in cash. The deal is expected to make the search engine giant to serve as a launching pad to send its own satellite to take aerial pictures and provide online access to remote areas of the world. Skybox’s satellites will help keep Google Maps accurate with up-to-date imagery. "Over time, we also hope that Skybox’s team and technology will be able to help improve Internet access and disaster relief — areas Google has long been interested in," said Google in a press statement.



"Skybox and Google share more than just a zip code. We both believe in making information (especially accurate geospatial information) accessible and useful. And to do this, we’re both willing to tackle problems head on — whether it’s building cars that drive themselves or designing our own satellites from scratch.
We are who we are because of the incredible customers, partners, & advisors who have given their time, wisdom, resources & encouragement over the years. To the people who believed in us before anyone else, you know who you are. Thank you.
In addition, we wouldn’t be here without the unwavering support of our friends and family. This has been an incredible journey, and we look forward to working with our new Google family and the world at­-large to write the next chapter.
We should point out that our agreement with Google, which is subject to customary approvals and closing conditions, hasn’t closed yet. So in the short term, it will continue to be business as usual at Skybox," said Skybox in its blog posting.
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