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Updated: July 8th, 2008 05:26 PM CDT

Space Imaging Sells Business Unit to Geo360

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BREAKING NEWS


Space Imaging Sells Business Unit to Geo360

Space Imaging ( Thornton, CO) has reached an agreement to sellits Federal Civil/Commercial Solutions business unit to Denver-basedGeo360 Corporation. The group provides mapping and GIS servicesto federal, state and local government customers.

Space Imaging is selling the group so that it can focus on its core business of selling commercial satellite imagery to all markets, and providing geospatial solutions to defense and intelligence agencies. Space Imaging will continue to serve the international markets through its Regional Affiliate and International Alliance programs.

The company will be increasing the scope and diversity of its defense offerings that include mapping production, R&D and system engineering services. Space Imaging will continue selling imagery to the civil and commercial markets both directly, through its Regional Affiliate ground stations and via its network of 75 worldwide resellers. Through these channels, Space Imaging expects to continue growing the adoption of high-resolution imagery.

Space Imaging’s Federal Civil/Commercial Solutions line of business was created with the March 2000 acquisition of Pacific Meridian Resources ( Emeryville, CA). During the last two years this line of business has exceeded revenue projections with an annual growth rate of 20 percent while tripling its profitability. Geo360 is well poised to continue this aggressive growth.

The sale price was not disclosed. The transaction is effective immediately and includes 55 people located in 10 offices throughout Colorado, California, Florida, Michigan and Oregon. Currently the group is managing more than 100 GIS and mapping contracts that will be transferred to Geo360.

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