EADS has increased its share in commercial satellite imagery provider Spot Image to 81%. The company bought out the stake held by the French space agency CNES.
EADS already held 40% in Spot Image, with CNES holding around 41%. The value of the deal was not disclosed. It formally closed July 12, says Colin Paynter, CEO of Astrium UK.
(3D image of Dead Sea. credit: Spot Image)
The case for the deal for EADS is clear, Payner suggests: “We believe geoinformation products will be a large market in the future.”
The deal also should help make Spot Image more responsive. In the coming years, Spot Image will require investment to grow the business, Paynter says. He argues further that “an industrial ownership will allow it to invest and move forward faster.”