DigitalGlobe (NYSE: DGI) has wrapped up its purchaseÂ ofÂ Chantilly, Virginia-based geospatial dataÂ services contractorÂ The Radiant Group from investment firm Aston Capital for approximately $140 million cash.
DigitalGlobe said Wednesday the acquisition allows the Westminster, Colorado-based satelliteÂ imagery provider to strengthen its foothold in the commercial geospatial information servicesÂ marketÂ and to help address theÂ intelligence community’s data requirements.
OâMelveny & Myers and DLA Piper respectively served as the legal counsels ofÂ DigitalGlobe and Radiant on the transaction, which the latter two companies first announced in October.
Radiant Group — which expects to generateÂ nearly $100 million in revenue for 2016 — works with various customer agencies through the company’s positions on atÂ leastÂ 80 government contract vehicles and 20 prime contracts.
DigitalGlobe financed the deal withÂ cash on hand and money under anÂ existing revolvingÂ credit line.