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Planet confirms Google stake as Terra Bella deal closes

19 April 2017

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WASHINGTON — As Planet announced it has completed its acquisition of rival satellite imaging company Terra Bella on 18 April, it confirmed that Google is now a shareholder in Planet as part of that deal.

Planet announced on 3 Feb. that it had reached an agreement with Google to acquire Terra Bella. Google had purchased Terra Bella, then known as Skybox Imaging, in 2014 for an estimated $500 million. At the time, both Planet and Google declined to disclose the terms of the deal other than that Google signed a multi-year deal to purchase imagery from Planet.

Source: SPACENEWS

Image credit: Space Systems Loral - An illustration of some of the SkySat high-resolution imagery satellites developed by Terra Bella.

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