Planet confirms acquisition of rival Terra Bella

by | Feb 6, 2017 | Uncategorized | 0 comments

The imaging satellite operator, Planet (formerly known as PlanetLab), has released a statement on 3 February 2017 confirming the completion of a deal with Google for their Earth-imaging business which was formerly known as Terra Bella. The agreement will see the entire Terra Bella business transferred to Planet including the SkySat fleet of high-resolution, small-satellites.

The sale will largely be cashless with Google taking a share in the Planet business in exchange for the Terra Bella company. Google will also sign a multi-year contract with Planet, for its Earth-imaging data needs.

Courtesy of Planet.

Courtesy of Planet.

 

The transaction is subject to customary closing conditions but Planet is not expecting any problems with this, nor opposition to the acquisition by the relevant regulatory agencies.

 

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