Internet search provider Google has entered into an agreement to buy satellite maker Skybox for $500 million in cash.
The deal is expected to make the search engine giant to serve as a launching pad to send its own satellite to take aerial pictures and provide online access to remote areas of the world.
Skybox’s satellites will help keep Google Maps accurate with up-to-date imagery, the Silicon Valley-based company told media.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US, Google said.
Skybox and Google, the statement said, believe in making information (especially accurate geospatial information) accessible and useful.
“And to do this, we’re both willing to tackle problems head on – whether it’s building cars that drive themselves or designing our own satellites from scratch,” it said.
Source: http://cablequest.org/news/technology-news/item/5176-cq-google-eyes-to-acquire-satellite-maker-skybox-for-$-500mn.html
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