Google acquires Skybox Imaging (nano-satellites)
Companies in Relationship
, Skybox Imaging
Initial Announcement Date:
Consideration: $478 million in cash (Source: Google 10-K)
Google acquires Skybox Imaging, which designs small, relatively inexpensive satellites that gather daily photos and video of the Earth. Skybox's nano-satellites weigh about 260 pounds, as compared to the tons that traditional satellites that can weigh. Their low-Earth orbit satellites are intened to stay in orbit for about four years.
Skybox's 120 employees, including CEO Dan Berkenstock, will initially be assigned to the Google Maps area.
Skybox has raised $94 million from investors that include Khosla Ventures, Bessemer Venture Partners and Norwest Venture Partners
As starters. Google is buying Skybox mainly for its image capabilities in support of Google Maps. However, Dan Berkenstock also positioned Skybox as having a data mining capabilities that could allow investors and corporate clients gain market intelligence from aerial photography.
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