Planet Labs Inks Deal for Google’s Satellite Business – Bloomberg

February 6, 2017 | Information Technology (IT), Technology

Planet Labs Inc., a startup that launches small satellites into orbit and sells the imagery, is acquiring the Terra Bella satellite business of Alphabet Inc. in a bid to take on larger industry incumbents.

Google has also agreed to purchase satellite images captured by Planet in a multiyear deal. “It’s a big deal,” said Will Marshall, Planet’s chief executive officer. Planet plans to launch an additional six of Terra Bella’s satellites. Bloomberg News first reported on the plan to sell the unit to Planet.

Marshall said Planet doesn’t need more funding to pay for the influx of staff and equipment, although the startup may raise money in the future. For its digital maps, Google currently buys from the imagery company DigitalGlobe Inc. Katie Watson, a spokeswoman for Google, said the Planet deal would not affect its deals with other imagery providers.

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Source: Planet Labs Inks Deal for Google’s Satellite Business

This entry was posted in Information Technology (IT), Technology on February 6, 2017 by Christian Sellu.