Deals
Planet Labs Inks Deal for Google’s Satellite Business
- Alphabet is giving the startup its seven satellites in orbit
- Google has signed a multiyear deal to buy Planet’s imagery
The Google Inc. logo hangs illuminated over the company's exhibition stand at the Dmexco digital marketing conference in Cologne, Germany, on Wednesday, Sept. 14, 2016. Dmexco is a two-day global business and digital economy innovation platform, attracting the industry's most important personalities and corporate decision-makers.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Planet Labs Inc., a startup that launches small satellites into orbit and sells the imagery, is acquiring the Terra Bella satellite business of Alphabet Inc. in a bid to take on larger industry incumbents.
In return, Alphabet’s Google is taking a stake in the startup. Google has also agreed to purchase satellite images captured by Planet in a multiyear deal. The companies declined to share financial terms.