Wednesday October 12, 2016 0 comments
WESTMINSTER -- DigitalGlobe, Inc. (NYSE: DGI), a global leader in Earth imagery and information, today announced it signed a definitive agreement to acquire privately held The Radiant Group, Inc. (“Radiant”) from Aston Capital for $140 million in cash.
The acquisition of Radiant combines two industry leaders recognized for delivering innovative solutions that help customers harness the power of Earth imagery and other forms of geospatial information.
Upon completing the transaction, DigitalGlobe said it will strengthen its position as the leading commercial source of geospatial information and insight with the capability and scale to address the needs of the world’s largest and most sophisticated customers.
The combined DigitalGlobe Services business will support critical national security missions with an expanded portfolio of advanced capabilities that extend across the entire geospatial intelligence value chain.
Headquartered in Chantilly, VA., Radiant has built a strong and growing presence within the U.S. Intelligence Community and has contracts with the National Reconnaissance Office (NRO), National Geospatial-Intelligence Agency (NGA), Defense Intelligence Agency (DIA) and Special Operations Command (SOCOM).
“The acquisition of The Radiant Group represents an important step in deriving new insights for customers from DigitalGlobe’s imagery and other geospatial information sources,” said Jeffrey R. Tarr, DigitalGlobe CEO.
“Combining Radiant with DigitalGlobe greatly enhances both organizations’ capabilities, expands our customer base across the U.S. Intelligence Community and increases our access to contract vehicles.
“Importantly, this acquisition also brings together hundreds of innovative developers and analysts with expertise in geospatial big data and analytics. Combined with the world’s most advanced commercial Earth-imaging capability, unrivaled archive and platforms, these capabilities position us to deliver more value to customers and shareowners.”
“We are proud to have built Radiant into an innovative technology and analytics business with a proven track record supporting Defense and Intelligence Customers,” said Bobby Basil, a partner at Aston Capital.
“The acquisition will expand DigitalGlobe’s customer base across the Intelligence Community, and simultaneously accelerate the pace of innovation in big data analytics and machine learning at the company. This is a very exciting development for the industry.”