Google is selling its $500 million satellite company to a startup

- Advertisement -

Terra Bella satellite imaging company which Google bought about two years ago for $500 million will be sold to mapping startup Planet Labs, the companies announced Friday.

Planet Labs will acquire Terra Bella business and satellites and Google will get the license the satellite imagery for its mapping products.

- Advertisement -

Financial terms of the deal are not disclosed yet by any of two companies.

However, a source reported to BI that Planet Labs paid less than $500 million Google originally paid, but still the deal was above the $300 million. The source also mentioned Google will be a major shareholder in Planet Labs and continue to invest in Terra Bella.

- Advertisement -

Terabella
A satellite image taken by Terra Bella.

This move marks the latest effort by Google’s parent company Alphabet to manage to spend throughout the organization.

- Advertisement -

Last year, Alphabet canceled its plans to deliver the internet from solar-powered drones which ended up in the expansion of Google Fiber internet service.  The company has also lost several key executives.

- Advertisement -
63045c01f4ad860aad8ad74961a9564b - Google is selling its $500 million satellite company to a startup
Adeel Younashttps://techwafer.com
Editor-in-Chief at TechWafer (previously The Tech) an Entrepreneur, Blogger, Developer, and Freelancer.

More from author

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related posts

Advertisment

Latest posts

Wallet at Your Fingertips: HUAWEI Pay Launched in Pakistan

Huawei Technologies introduced its secure online transaction service – HUAWEI Pay in Pakistan in 2020. It is a safe, secure, easy, and efficient way...

vivo Envisions User-Oriented Innovation in 2021

vivo has concluded a remarkable year in 2020, highlighting the importance of user-oriented innovation in the smartphone industry. Braving the global impact of COVID-19,...

How to Download Call of Duty Warzone on Mac and Windows to Play

Call of Duty: Warzone is the latest game of the subsidiary, and its a take on battle royale games already available like PUBG and...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!