Google acquires satellite maker Skybox Imaging for $500 mn

In a sign that the battle for the skies was hotting up Google has acquired Skybox Imaging, a company that uses small satellites to transmit high-resolution images from space, for $500 million.

The acquisition comes only two months after the internet search company's acquisition of Titan Aerospace, which beams internet signals from high-altitude drones (See: Google acquires solar-powered drone maker Titan Aerospace). In March Facebook spent $20 million on Ascenta, another drone maker.

Google says it plans to use Skybox's satellites to make better maps with ''up-to-date imagery.''

''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.''

Skybox, which currently has only a single satellite in orbit,  plans to launch a fleet of them to cover the entire globe at all times.

Constantly updated satellite images could find applications in many fields from agriculture to hedge funds to hardware stores and be of interest to companies in the fields.

A demonstration earlier this year showed how the company's satellite could be used to monitor oil reserves from space.

"We've agreed to acquire Skybox Imaging, and we look forward to welcoming them to Google," the internet giant said in a statement.

"Their satellites will help keep our maps accurate with up-to-date imagery. 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."

According to Skybox's blog post, the five-year old company's goal was "to revolutionise access to information about the changes happening across the surface of the Earth."

"We've built and launched the world's smallest high-resolution imaging satellite, which collects beautiful and useful images and video every day... 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."

Silicon Valley-based Skybox currently plans to deploy 24 satellites.

With the company's technology, businesses and others would get highly detailed, up-to-date imagery that can be used for supply chain monitoring, maritime tracking, and environmental and humanitarian relief monitoring.