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Google Said to Hold Acquisition Talks with Skybox Imaging

google(1)According to Bloomberg Google is in talks to buy Skybox Imaging Inc., a provider of high-definition imagery.  Negotiations are early and a deal may not take place.  TechCrunch reported that the price could be in the $1 billion range, citing a source familiar with the matter.

It’s also not clear how Google would use Skybox, which provides detailed photos and analytics to customers via satellites of locations around the world.  Google is scouring the technology universe for deals that push into new markets as competitors challenge its services, including everything from search and mapping to telecommunications and music sales.

Skybox has designed satellites to capture images and deliver them to customers with details down to less than a meter according to its website. Targeted industries include agriculture, mining and insurance.

The imagery company, whose initial business plan was written in 2009, has a team of more than 100 people, according to its website. Skybox’s investors include Khosla Ventures, Bessemer Venture PartnersCanaan Partners and Norwest Ventures Partners. It has raised more than $85 million.

Source: Bloomberg.com

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