Google to acquire satellite maker Skybox for $500 mn in cash

Internet search provider Google is set to acquire satellite maker Skybox for $500 million in cash.

The deal is expected to make the search engine giant, which is planning a strong fiber-based broadband project, to serve as a launching pad to send its own satellite to take aerial pictures and provide online access to remote areas of the world.

Skybox’s satellites will help keep Google Maps accurate with up-to-date imagery, said the Silicon Valley-based company in a statement.

“Over time, we also hope that Skybox’s team and technology will be able to help improve Internet access and disaster relief areas Google has long been interested in,” Google said.

“Five years ago, we began the Skybox journey to revolutionise access to information about the changes happening across the surface of the Earth. We’ve made great strides in the pursuit of that vision. We’ve built and launched the world’s smallest high-resolution imaging satellite, which collects beautiful and useful images and video every day” said Skybox.

Skybox and Google believe in making information especially accurate geospatial information accessible and useful.