Google has signed an agreement to acquire US-based satellite company Skybox Imaging for $500m.
The deal is expected to help Google offer accurate maps with up-to-date imagery, as well as improve internet access and disaster relief, the areas the search engine has long been interested in.
The acquisition of the start-up satellite company comes at a time when Google and its rival Facebook are looking to acquire satellite and drone firms to strengthen their global market positions.
This transaction marks the search engine company’s second high-profile acquisition of an aerospace firm this year, following its acquisition of Titan Aerospace, an American drone maker in April.
In addition, Google is investing more than $1bn to place more than hundred satellites in orbit to widen internet access, The Wall Street Journal recently reported.
SkyBox Imaging launched the world’s smallest high-resolution imaging satellite that collects images and video every day.
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By GlobalDataAnnouncing its agreement with Google, Skybox said on its website: "The time is right to join a company who can challenge us to think even bigger and bolder, and who can support us in accelerating our ambitious vision."
The acquisition is subject to customary closing conditions, including various regulatory approvals in the US.
