Space Imaging Sells Unit to Geo360

THORNTON, Colo., Sept. 15 -- Space Imaging announced today it has reached an agreement to sell its Federal Civil/Commercial Solutions business unit, which provides mapping and geographic information systems (GIS) services to federal, state and local governments, to Geo360 Corp., a Denver provider of geospatial information and information systems to business and public policy decision makers.

Space Imaging said it wants to focus on selling commercial satellite imagery to all markets and providing geospatial solutions to defense and intelligence agencies. It will continue to serve international markets through its regional affiliate and international alliance programs. The company also said it will increase the scope and diversity of its defense offerings that include mapping production, R&D and system engineering services.

The Federal Civil/Commercial Solutions business was created when Space Imaging acquired Pacific Meridian Resources in 2002.

The sale price was not disclosed. The transaction is effective immediately and includes 55 people located in 10 offices in Colorado, California, Florida, Michigan and Oregon. Currently the group is managing more than 100 GIS and mapping contracts that will be transferred to Geo360.

"We're veterans of the GIS/remote sensing industry and have a great depth of knowledge in both the GIS and remote sensing markets," said John Deal, CEO of Geo360. "This group has grown very smart in the past four years. With this strong foundation, we're going to enter new markets and develop new solutions."

For more information, visit: www.spaceimaging.com