DigitalGlobe Acquires Spatial Energy
DigitalGlobe, Inc. (NYSE: DGI), a leading provider of commercial high-resolution earth observation and advanced geospatial solutions, today announced that it has acquired Spatial Energy, a leading source for digital imagery and related services to the energy industry. Financial terms of the transaction were not disclosed.
Spatial Energy helps energy companies reduce the cost, time and effort associated with acquiring and analyzing complex geospatial information. Spatial Energy’s robust geospatial solutions enable its customers, which include 12 of the top 20 largest oil and gas companies, to more effectively manage their workflows throughout the exploration and production lifecycle. The company provides more than 50 different geospatial data sets, allowing its customers to tailor information solutions to best meet their needs. Its cloud-based spatial data management and delivery platform — Spatial on Demand® — integrates vast archives of geospatial data into a centralized online database that can be accessed anywhere and procured through a subscription service. Founded in 2005, Spatial Energy is a privately-held company based in Boulder, Colorado.
“The acquisition of Spatial Energy advances our position as the leading source of geospatial information and insight,” said Jeffrey R. Tarr, Chief Executive Officer. “Spatial Energy’s powerful cloud-based solution streamlines the process of acquiring and analyzing complex geospatial information and aligns with our goal of delivering insight that answers vital questions for our customers. In addition, Spatial Energy provides DigitalGlobe with a talented, global sales force in the oil and gas vertical, positioning us closer to end customers in this dynamic industry.”
Kenneth “Bud” Pope, co-founder and President of Spatial Energy, added, “Spatial Energy has been trusted as a leading provider of geospatial solutions to the oil and gas industry, helping companies turn imagery from a time-consuming task into a corporate asset. We’re excited to join the DigitalGlobe team to deliver more value and scale to our customers.”
Mike Bahorich, Executive Vice President and Chief Technology Officer of Apache Corporation, said, “We find the Spatial on Demand platform helpful for making exploration and environmental decisions. We’re excited about the combined organization’s ability to offer us more access to the highest quality commercial imagery in the world, which will save time and resources throughout the exploration and production lifecycles.”
About DigitalGlobe
DigitalGlobe is a leading provider of commercial high-resolution earth observation and advanced geospatial solutions that help decision makers better understand our changing planet in order to save lives, resources and time. Sourced from the world’s leading constellation, our imagery solutions deliver unmatched coverage and capacity to meet our customers’ most demanding mission requirements. Each day customers in defense and intelligence, public safety, civil agencies, map making and analysis, environmental monitoring, oil and gas exploration, infrastructure management, navigation technology, and providers of location-based services depend on DigitalGlobe data, information, technology and expertise to gain actionable insight.
DigitalGlobe is a registered trademark of DigitalGlobe.
Contacts
Investor Contact:
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(303) 684-4210
ir@digitalglobe.com
Media Contact:
Nancy Coleman
(303) 684-1674
nancy.coleman@digitalglobe.com
