An announcement noticed in the latest Trading Room Investor report -
2014-06-11
Google is buying Skybox Imaging in a deal that could serve as a launching pad for the internet company to send its own fleet of satellites to take aerial pictures and provide online access to remote areas of the world.
The $US500 million ($A541 million) acquisition announced on Tuesday initially will provide Google with the means to improve the quality and immediacy of the satellite imagery used in its digital maps.
Google Inc. plans to use Skybox's satellite already in orbit to supplement the material that it licenses from more than 1000 sources, including other satellite companies such as DigitalGlobe and Astrium.
Eventually, though, Skybox could turn into another Google "moonshot" - a term that CEO Larry Page has embraced for describing ambitious projects that could take several years to materialise.
NEA Price at posting:
54.0¢ Sentiment: Hold Disclosure: Held
