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

GeoEye Acquires Leading Aerial Imagery Provider From GE Oil & Gas

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via PRNewswire

DULLES, Va., March 15 /PRNewswire - FirstCall/ -- GeoEye, the world's largest operator of commercial imagery satellites (Nasdaq: GEOY), today announced the acquisition of M.J. Harden Associates, Inc. from General Electric Company (NYSE: GE). M.J. Harden is an industry-leading provider of digital aerial imagery and geospatial information solutions. GeoEye completed the acquisition of M.J. Harden's outstanding stock on March 15, 2007 , and will operate the company as a wholly owned subsidiary. M.J. Harden, located in Mission, Kansas, has about 60 employees. As part of the agreement, GE will continue to own and operate the pipeline GIS consulting, software and data management business under GE's PII Integrity Services Division. M.J. Harden will continue to work together with PII to provide photogrammetry and geospatial services to support PII's Pipeline Integrity Services business.

The acquisition gives GeoEye access to M.J. Harden's digital aerial imagery capture capability, photogrammetry services, mobile and geographic information system technology and implementation services, field data collection and other related services that provide customers with asset-mapping and corridor management solutions. Customers include utilities, engineering companies, developers and federal, state and local government agencies, among others.

"This acquisition enables us to provide satellite and aerial imagery along with geospatial solutions to our resellers and customers," said Matthew O'Connell, GeoEye's president and chief executive officer. "Since most of M.J. Harden's customers are in the commercial segment, we think we can help them do more in the federal government sector. At the same time, we hope to expand the products they offer their customers. The addition of M.J. Harden's expert staff and services to the processing capabilities already offered by GeoEye is a logical extension of our goal of providing the highest quality geospatial information to our customers."

The deal will give GeoEye's customers access to M.J. Harden digital aerial imagery where customers may need higher resolution imagery than what is available from GeoEye's satellites. Digital aerial imagery is extremely complementary to GeoEye's imagery and is especially useful to geospatial professionals working for state and local governments, corridor mapping, as well as the utilities sector.

"The combination of GeoEye's high-quality satellite imagery and M.J.Harden's map-accurate digital aerial imagery will provide our customers information of unprecedented quality," said Doug Leibbrandt, general manager of M.J. Harden Associates, Inc. "We're eager to collaborate on a full range of geospatial products and solutions for customers in a wide range of markets."

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