Google buys Skybox, a satellite firm, for $500 million

Google said last Tuesday that it’s set to acquire Skybox Imaging.

The company deals with smaller and low-costing satellites to gather high-quality images, which will obviously be used for Google Maps and Earth. There is also talk of internet access expansion, to a global scale.

Well, Skybox deals with the building and launching of satellites, all with the aim of improving remote earth imaging and monitoring. Its best feature has to be how relatively cheap there satellites are, in a not-so-cheap industry. Generally, space related equipment are not in any way cheap, and skybox manages to take  a chunk off the money spent per satellite launch.

These satellites will have a shorter life span, but still manage to be more cost effective.

The move by Google to expand its digital network, probably to developing countries feels like a strong business move, by all means. I mean as much as western markets are crucial, let’s face it, the developing countries are starting to catch up and this means more potential customers for them.

Skybox, a New Mexico-based company, was founded five years ago, managed to convince venture capitalists to raise about $91 million in funds. I can’t wait to see how Google will use it.