DigitalGlobe Inc. and GeoEye Inc., two major commercial providers of imagery and geospatial solutions, completed an estimated US$900 million merger, creating a new entity with a market capitalisation near US$2 billion. The merger, approved by both companies’ boards in July 2012, underwent a good dose of federal scrutiny before final government approval in January 2013.
On Sept. 21, 2012, the U.S. Department of Justice (DOJ) requested additional information, as part of a “Second Request,” from the two companies. And the merger required regulatory approval from the Federal Communications Commission as well as the National Oceanic and Atmospheric Administration.
The new company, led from DigitalGlobe’s existing headquarters at Longmont, Colo., retains the name of DigitalGlobe and will continue to trade on the NYSE under the symbol “DGI.”
“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,” said Jeffrey R. Tarr, president and CEO of DigitalGlobe.