Boston, MA 06/11/2014 (wallstreetpr) – Google Inc. (NASDAQ:GOOG) has confirmed it is acquiring satellite company Skybox for $500 million; this is part of Google’s effort to bolster its mapping services normally offered through Google maps, as well as improving internet access. Acquisition of Skybox would also go a long way in helping Google send its own fleet of satellites for taking aerial pictures and providing internet access to remote areas in various parts of the world.
Skybox to Help in Launching Ambitious Projects
The $500 million acquisition will also go a long way in helping Google improve the quality of it’s of satellite imagery for companies such as DigitalGlobe and Astrium. Skybox could also be another of Google Inc. (NASDAQ:GOOG)’s ‘Moonshot’ projects; a code name consistently used by the company’s CEO in describing ambitious projects.
The acquisition of Skybox comes at a time that Google has for some time been trying to build more satellites that can be used to beam internet services to various places around the globe. Skybox will also go a long way in accelerating “Project Loon” a venture unveiled by the company a year ago. The project features a jellyfish like balloons that are fitted with antennas and used to bring internet services to various parts of the world without having to rely on any proper wiring’ for one to use the internet.
Google’s Internet Access Vision
Google is trying to increase the number of people who get online so that it can generate more income from ads that form a pinnacle of its total revenue. The company’s top executives have consistently reiterated their desire to have more people with direct access to the internet to create a more knowledgeable society.
Acquisition of Skybox comes two months barely after the company finished the acquisition of drone maker Titan Aerospace. Google Inc. (NASDAQ:GOOG) has been on a rampage over the past few years having finished 250 acquisitions over the past decade. Skybox is located a mile away from Googles headquarters and is five years old.
