Google to Sell its Satellite Imaging Business to Planet Labs. In January Google first reported that it is selling Terra Bella business to Planet Labs. Now Google has announced that it going to sell its business Terra Bella.
According to the deal, Planet Labs will acquire Terra Bella business including the SkySat constellation of satellites, Alphabet said.
Almost two years ago Google acquired Terra Bella in a deal valued at $500 million. Recently google has been reforming its business, starting with the evolution of Alphabet as an exceeding parent company.
Google to Sell its Satellite Imaging Business to Planet Labs
Google will enter into a multi-year contract to purchase Earth-imaging data from Planet Labs after the deal ends.
In a blog post announcing the news, Planet Labs’ Will Marshall noted that,
“The seven high-res SkySat satellites it’s acquiring as part of the deal will be “highly complimentary” to its existing fleet of medium res satellites, which includes 60 units in total.”
Planet’s current network can only get three to five meter resolution. Whereas Google’s satellites can maintain “sub-meter,” which is why images on Google Earth and Google Maps tend to be so crisp and crystal clear.
Google Acquired Terra Bella in a Deal Valued at $500 million
Planet will use the Terra Bella competences to help increase its potential customer base. Details and financial terms of the deal have not been revealed yet.
Planet Labs is a San Francisco-based private satellite operator founded by former NASA scientists. It is one of several startups aiming to harness technology permitting satellites to become smaller and less expensive. That makes it easier to deploy large networks of satellites at less risk and lower cost than before.