Google sells satellite imaging business Terra Bella to Planet Labs
- Opening bell: Asian markets rise; TeamLease, Jaiprakash Power, Mahindra Finance in news
- Kansai Nerolac: overhang of higher input costs remains in Q2
- How India stacks up against peers on fiscal parameters
- Bajaj Finance: milking the consumption story yet again
- Colgate-Palmolive: weaker-than-expected recovery in wholesale trade
Bengaluru: Alphabet Inc’s Google said on Friday it would sell its satellite imaging business, Terra Bella, to Planet Labs, a San Francisco-based private satellite operator founded by former Nasa scientists.
The financial terms of the deal were not disclosed.
As part of the deal, Planet Labs will acquire the Terra Bella business including the SkySat constellation of satellites, Alphabet said.
Google will enter into a multi-year contract to purchase Earth-imaging data from Planet Labs after the deal closes.
Google had acquired Terra Bella, originally known as Skybox Imaging, for $500 million in 2014.
The deal will help Planet Labs broaden its available data and add new customers.
Planet Labs is one of several startups aiming to harness technology allowing satellites to become smaller and less expensive, making it easier to deploy large networks of satellites at less risk and lower cost than previously. Reuters