Google parent company Alphabet has announced that it is selling its satellite imaging unit Terra Bella to startup Planet Labs. Terra Bella was formerly known as Skybox, acquired by Google in 2014 for $500 million.
Two companies announced the decision on Friday, although the amount for the deal was not disclosed.
After completion of the deal, Planet Labs will acquire Terra Bella’s seven SkySat satellites, and Google will pay the company for high-resolution imagery to be used in Google’s products and services.
“Planet Labs is thrilled to announce that we have entered into an agreement with Google, wherein Planet will acquire the Terra Bella business including the SkySat constellation of satellites, and Google upon closing, will enter into a multi-year contract to purchase Earth-imaging data from Planet,” Planet Labs stated on its website.
Planet Labs will also take on 80 Alphabet employees, according to Bloomberg.
Planet Labs is known for its specialization in using satellite imagery to provide data for industries like agriculture, ecological research, and mapping. The company is a well-known name in satellite imagery space, and is planning to send up its satellite in space later this month through PSLV rocket that will be launched from the Satish Dhawan Space Centre in Sriharikota, India. The rocket will carry most ever 88 satellites in a single launch.
“When we thought about a company that shares Terra Bella’s passion and strengths in high frequency satellite imaging, Planet was a natural home,” said Jen Fitzpatrick, VP of Product and Engineering, Google.
“Terra Bella has accomplished a lot in the past two years—including the design and launch of five more satellites. We’re excited to see what’s ahead for Terra Bella, and look forward to being a long-term customer.”
Terra Bella Co-Founder John Fenwick commented: “From the start, Planet and Terra Bella have shared similar visions and approached aerospace technology from a like-minded position, and while our on-orbit assets and data are different, together we bring unique and valuable capabilities to users.”
“Planet and Terra Bella together enables the continuation of our mission and makes for an ever-stronger business.”
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