A PYMNTS Company

US: Google to enter disaster relief services with latest acquisition

 |  June 10, 2014

Google has inked its latest acquisition deal, announcing Tuesday that it plans to acquire Skybox Imagine, according to reports.

Google announced the buyout for $500 million, though is subject to adjustments.

Reports say the transaction, not entirely unexpected among industry experts, will boost Google’s mapping technologies through Skybox’s satellites. Google said the deal will boost accuracy and allow the company to enter disaster relief efforts through the use of Skybox imaging capabilities.

The deal remains subject to regulatory approval; Google did not specify a timeline of the transaction.

Full content: The Street

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.