GeoEye to acquire Spadac Inc.
- December 8, 2010
GeoEye, a Dulles-based company that provides satellite and aerial geospatial information to commercial and government clients, said Wednesday that it has agreed to purchase Spadac Inc. for $46 million in cash and stock.
Spadac, based in McLean, offers geospatial analytic solutions to more than 40 customers in key markets of defense, intelligence and homeland security.
Upon completion of the acquisition, Spadac would become a wholly-owned subsidiary named GeoEye Analytics.
GeoEye said in a statement that the deal will broaden its information service offerings and expand its customer base into new markets. Spadac’s revenues are forecasted to be about $27 million in 2010.