Satellite imaging provider GeoEye has acquired geospatial predictive analytics firm SPADAC for US$46m in a cash and stock transaction.
The deal comprises US$34.5m in cash, US$9m in GeoEye unregistered shares of common stock, and US$2.5m through…
Satellite imaging provider GeoEye has acquired geospatial predictive analytics firm SPADAC for US$46m in a cash and stock transaction.
The deal comprises US$34.5m in cash, US$9m in GeoEye unregistered shares of common stock, and US$2.5m through converted equity as a result of a previous investment in SPADAC.
GeoEye president and CEO Matt O’Connell commented: “We have worked together since 2007, when GeoEye acquired a minority ownership interest in the company. We believe that, by combining our imagery collection capabilities with SPADAC’s location-based analytic solutions, we can help our customers gain unprecedented insight about the areas around the world in which they operate. We believe we will be the only company in the industry to provide this end-to-end capability”
The merger is expected to be completed before the end of the year, and will see SPADAC renamed as GeoEye Analytics Inc.
Formed in 2002, SPADAC specialises in providing geospatial predictive analytics solutions to the defence, intelligence and homeland security markets. The company’s revenues are forecasted to be approximately US$27m in 2010.
