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Google has bought satellite company Skybox for 500 million dollars

Google hopes to provide better internet access in disaster zones with the 500 million dollar acquisition of satellite imaging company Skybox (NASDAQ:GOOGL)

| Science, Space & Robotics News | Posted: Jun 11, 2014 8:31 pm

Half a year after it sent its first satellite into space, Skybox has been bought by Google. In a statement, Google said the company's satellites will circle the earth and keep its Maps service accurate with up to date imagery. Google hopes that some day it will also be able to use Skybox's satellites to improve internet access, particularly in disaster relief areas.

 

TweakTown image news/3/8/38407_01_google_has_bought_satellite_company_skybox_for_500_million_dollars.jpg

 

Google splashed 500 million dollars on the company, which was founded in California in 2009. Skybox hopes to specialize in providing commercial, high resolution satellite imagery around the world and on demand. As is typical with such deals, it's subject to the usual closing conditions.

 

Earlier this year, Skybox managed to snap some breathtaking, high definition video footage of our planet - from space.

NEWS SOURCE
Investor.google.com

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