GeoEye NextView Contract Renewed for Four Months

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Imagery satellite operator GeoEye of Dulles, Va., has been awarded a $50 million, four-month contract extension to its current NextView contract with the U.S. National Geospatial-Intelligence Agency (NGA), according to a Sept. 14 Defense Department announcement.

The NGA’sNextView contracting vehicle was used to finance the current generations of imagery satellites operated by GeoEye and competitor DigitalGlobe of Longmont, Colo. Both companies are currently selling as much as $12.5 million worth of imagery to the government each month through the contracts.

GeoEye’s contract was extended through March 31, 2010, with another nine-month option that would be worth $112.5 million. DigitalGlobe announced in June it has received an identical contract extension.

Meanwhile, GeoEye announced Sept. 17 that it would try to raise $350 million in capital with the private sale of Senior Secured Notes that would be due in 2015.