Google Close to Acquiring Skybox Imaging for $1 Billion

Google may have its eyes set on yet another billion-dollar acquisition.

The search giant is said to be nearing an acquisition of Skybox Imaging, a company that provides high-resolution satellite imager, for around $1 billion, according to a report in TechCrunch. The two companies have reportedly had several rounds of talks.
Reps for Google and Skybox did not immediately respond to our request for comment.

The Information reported last month that Google was in early talks to acquire Skybox. The potential price tag was not included in that report, though the publication noted that Skybox was in talks to raise a round of funding at a valuation in the "hundreds of millions."

Google and Facebook have both pursued satellite businesses in recent months. Google purchased Titan Aerospace in April to help expand Internet access to new regions and, some speculated, to help with Google Maps.

The Skybox acquisition could be useful for Maps as well. Skybox, founded in 2009, provides near real-time images and videos to businesses to help them make more informed decisions. For example, one might use Skybox to get a clearer sense of crop production or to get a sense of consumer demand based on the number of cars in a parking lot.

Some have even described companies like Skybox as being like Google for Earth.