Reports about Google investing big in satellite technology(s goog) and specifically buying satellite photography outfit Skybox are true. The companies revealed on Tuesday Google has entered into agreement to buy Skybox Imaging for $500 million in cash.
As its name implies, Skybox is trying to build a constellation of microsatellites that will take high-resolution images of the earth's surface and then mine data form the photos and videos it captures. According to Skybox's blog:
"We've built and launched the world's smallest high-resolution imaging satellite, which collects beautiful and useful images and video every day. We have built an incredible team and empowered them to push the state-of-the-art in imaging to new heights. The time is right to join a company who can challenge us to think even bigger and bolder, and who can support us in accelerating our ambitious vision."
Google confirmed it plans to use Skyboxes images to improve Google Maps, but Google added that the data Skybox collects would help other aspects of the company's business, including Google's numerous internet access projects.
"Over time, we also hope that Skybox's team and technology will be able to help improve Internet access and disaster relief — areas Google has long been interested in," Google said in a statement.