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DigitalGlobe Closes GeoEye Acquisition

DigitalGlobe Chief Executive Jeffrey Tarr. Credit: DigitalGlobe photo

WASHINGTON — Imaging satellite operator DigitalGlobe announced Jan. 31 that it had finalized its acquisition of erstwhile rival GeoEye creating a single company with five satellites on orbit and a market capitalization of $2.1 billion based on DigitalGlobe’s closing share value the previous day.

“With a stronger financial profile, more robust suite of services, and among the world’s most advanced geospatial production and analysis capabilities, we will be even better positioned to meet customers’ needs and create value for shareowners,” DigitalGlobe President and Chief Executive Jeffrey R. Tarr said in a prepared statement. “Together, we are poised to achieve our vision of being the leading source of information about our changing planet.”

The merger was announced in July and approved by U.S. antitrust regulators in early January.

Longmont, Colo.-based DigitalGlobe said it secured $700 million in credit in connection with the acquisition, including a term loan of $550 million and a revolving credit facility of $150 million.

 

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