Space Imaging To Sell Its Federal Civil Business Unit To Geo360

EARTH OBSERVATION

File image of a tract of land in South Carolina. Credit: Space Imaging

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."

EARTH OBSERVATION

ITT Industries Selected To Work On NexGen GOES Weather Satellite Instrument

White Plains NY (SPX) Sep 15, 2004
NASA has selected ITT Industries Space Systems Division for a $359 million contract to develop, manufacture and test an advanced Imager for the next generation of geostationary weather satellites operated and funded by the National Oceanic and Atmospheric Administration (NOAA).

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.