Planet’s acquisition of Terra Bella from Google will enable the capture of daily images of the entire planet. The companies made the historic announcement on February 3, this year. Previously rivals, they have now recognized their like-minded goals. Planet’s CEO and co-founder, Will Marshall, has expressed the admiration he has always held for the Terra Bella team. He sees the acquisition as complementary.
The sale price remains undisclosed. However, Google signed a multi-year contract enabling them to continue purchasing imaging data. This deal will see Planet become a world leader in this market place. Planet had previously hinted at difficulties they experienced acquiring customers. This was due to it only being able to obtain low resolution images, until now.
Terra Bella is a satellite imaging business that was initially purchased by Google in 2014. Google’s intention behind the purchase was to improve its Google Maps imaging. Google had aspirations to surround the Earth in satellites to provide global internet access. The intention behind this was to potentially improve disaster relief through this technology.
The umbrella company, Alphabet, bought Terra Bella for $500 million. Terra Bella had already acquired for itself $900 million prior to the purchase.
Formerly Skybox Imaging, Terra Bella began in 2009 in the living room of four Stanford Graduates. The founders included John Fenwick, Dan Berkenstock, Ching-Yu Hu, and Julian Mann. Their initial business plan was actually a course requirement of their entrepreneurship course.
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