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Space Imaging To Sell Its Federal Civil Business Unit To Geo360
Denver CO (SPX) Sep 16, 2004 Space Imaging announced Wednesday it has reached an agreement to sell its Federal Civil/Commercial Solutions business unit to Denver-based Geo360 Corporation. The group provides mapping and GIS services to 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. "This sale is a natural progression of where our company has grown in the past two years," said Robert Dalal, chief executive officer of Space Imaging. "We will focus on our core competencies and continue to expand our imagery and solutions offerings to defense and intelligence agencies." Space Imaging's Federal Civil/Commercial Solutions line of business was created with the March 2000 acquisition of Pacific Meridian Resources. 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. "These markets are still very important to us, and we will continue to address those markets both directly and through our resellers around the world," said Gene Colabatistto, executive vice president of Solutions at Space Imaging. "This will also eliminate any competition with our resellers in the services marketplace and allow Space Imaging to focus its solutions offering on defense and intelligence customers. Geo360 is better aligned to develop the value-added work for these federal, state and local government markets." 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. "We're veterans of the GIS/remote sensing industry and have a great depth of knowledge in both the GIS and remotes sensing markets," said John "Grizz" Deal, chief executive officer of Geo360. "This group has grown very smart in the past four years. With this strong foundation we're going to enter new markets and develop new solutions." Community Email This Article Comment On This Article Related Links Geo360 Corporation Space Imaging SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Earth Observation News - Suppiliers, Technology and Application
New Legislation Initiated To Support Commercial Remote Sensing Industry
New York NY (SPX) Jan 11, 2006The importance of remotely sensed data and technologies to support natural disasters has prompted attention and action in Washington. New initiatives and legislation authorizing appropriations to the remote sensing industry will be discussed at Strategic Research Institute's U.S. Commercial Remote Sensing Industry conference, scheduled for February 9-10, 2006 in Washington D.C. |
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