Friday, May 30, 2014

Google Is Reportedly Mulling Expansion In Outer Space

This article was originally published by Seeking Alpha on May 25, 2014

By Sarfaraz A. Khan  

Google is reportedly working to acquire Skybox Imaging as it continues to find ways to diversify its revenue base. Skybox builds microsatellites that capture high resolution images and high definition videos. Through this acquisition, Google could enhance its product offerings in Google Maps. 

Google (GOOG) (GOOGL) has made some big moves over the last few months. The company sold Motorola to Lenovo for $2.9 billion in a cash and stock deal and acquired the smart thermostat maker nest for $3.2 billion. The technology behemoth is reportedly getting close to another massive acquisition that could take it to outer space.

According to a recent report by TechCrunch, Google could acquire Skybox Imaging, a startup that provides high resolution satellite images and full motion videos in a deal valued at over $1 billion.

According to industry insiders, as reported by TechCrunch, Google has shown interest in acquiring either Skybox or Planet Labs in the satellite imaging market. The tech giant has now reportedly made up its mind to go after Skybox. The former has been valued at between $500 million and $700 million in 2012. 

On its website, Skybox says, "We build satellites, we write code, and we deploy data centers." The company is headed by Tom Ingersoll, who has worked in the space and communication industries for nearly two decades. Tom was also the co-founder and former CEO of Universal Space Network, which is one of the main providers of mission-critical ground station services to NASA and the U.S. Department ….. read full article at Seeking Alpha