Google says it will pay $500 million in cash for Skybox Imaging, using the company’s satellites and related technology to improve its Google Maps service.
In a post about the news, Skybox says, “We’ve built and launched the world’s smallest high-resolution imaging satellite, which collects beautiful and useful images and video every day. We have built an incredible team and empowered them to push the state-of-the-art in imaging to new heights. 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.”
In addition to boosting its mapping service, Google says it hopes to use Skybox’s technology to improve Internet access and disaster relief efforts around the world.