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Google is selling its $500 million satellite imaging company to a startup
Terra Bella
A satellite image taken by Terra Bella.
Terra Bella, the satellite imaging company that Google bought about two years ago for $500 million, will be sold to mapping startup Planet Labs, the companies announced Friday.
According to the agreement, Planet Labs will acquire the Terra Bella business and satellites and Google will continue to license the satellite imagery for its mapping products.
The companies did not disclose the financial terms of the deal.
The move marks the latest effort by Google’s parent company Alphabet to manage spending of its Other Bets, the companies and projects outside the core Google business.
In over the past year Alphabet has canceled its plans to deliver the internet from solar-powered drones, ended the expansion of its Google Fiber internet service, and slowed down development of its drone-delivery service. The company has also lost several key executives.
Alphabet’s Other Bets lost $1.088 billion last quarter on $262 million in revenue, the company reported in its earnings last month.
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