Ed’s Daily Notes for June 11th   Leave a comment

Google

Bloomberg (via Yahoo Finance): Google Buying Satellite Company Skybox for $500 Million in Cash

Google Inc. (GOOG) said it’s acquiring satellite company Skybox Imaging Inc. for $500 million as it works to bolster its mapping services and improve Internet access.

The all-cash deal is subject to adjustments, the Mountain View, California-based company said on its website yesterday. Skybox has designed satellites to capture images and deliver them to customers with details down to less than a meter.

“Skybox’s satellites will help keep Google Maps accurate with up-to-date imagery,” Google said on its site. “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.”

I see this as another good acquisition by Google. There is good synergy there.

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Posted June 11, 2014 by edmcgon in News, Stocks, Technology

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