A mapping startup called Planet Labs is to purchase Google’s Terra Bella. It is a satellite imaging company which the search engine giant acquired about two years ago for $500 million. However, Google announced this news on Friday but evaded to disclose about the deal between the two companies.
Well, as per the understanding about the agreement, Planet Labs will obtain the Terra Bella business and satellites and Google will keep on licensing the satellite imagery for its mapping products such as Google Maps.
Google will still maintain some control
In the condition of being anonymous, a source familiar with the agreement disclosed that Google sold its Terra Bella project to Planet Labs for less than its original value but was above $300 million. It also shared that Google would be a noteworthy shareholder in Planet Labs and keep on putting resources into Terra Bella’s prosperity in the long run.
It seems that though Planet Labs is to acquires Terra Bella from Google, the search engine giant will still keep its control over the satellite imaging company.