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Google acquires venture capital-backed Skybox Imaging for $500m

11 Jun 2014

moonInternet giant Google has agreed to acquire venture capital-backed satellite business Skybox Imaging for $500m.

The company said Skybox’s satellites will help keep Google Maps accurate with up-to-date imagery.

“Over time, we also hope that Skybox’s team and technology will be able to help improve Internet access and disaster relief — areas Google has long been interested in,” said Google.

Skybox’s venture backers include Asset Management Ventures, Crunch Fund, Canaan Partners, Norwest, Khosla Ventures and Bessemer Venture Partners, which all participated in its $70m Series C in 2012.

Khosla backed the company’s $3m Series A in 2009, which was followed by an $18m round a year later.

Google’s venture capital arm recently participated in a $16m funding round for big data startup Tamr.

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