GeoEye (Nasdaq: GEOY) has reached a deal to purchase SPADAC Inc. for $46 million in cash and stock.
SPADAC focuses on geospatial predictive analytics.
Following move, SPADAC will function as a wholly owned subsidiary named GeoEye Analytics.
“GeoEye is pleased to welcome SPADAC’s highly skilled employees to our team, ” GeoEye CEO Matt O’Connell said. “We have worked together since 2007, when GeoEye acquired a minority ownership interest in the company. We believe that, by combining our imagery collection capabilities with SPADAC’s location-based analytic solutions, we can help our customers gain unprecedented insight about the areas around the world in which they operate. We believe we will be the only company in the industry to provide this end-to-end capability.”
