Dulles, Va. – GeoEye, a provider of geospatial information
and services, said it has raised $78 million through a private placement,
selling 80,000 preferred shares to Cerberus Satellite.

The company plans to use
the proceeds to develop and launch GeoEye-2, its newest Earth-imaging
satellite; its other satellite helps power Google Earth and Google Maps.

latest deal comes six months after GeoEye signed a financing agreement with New
York private equity firm Cerberus Capital Management.

Under the arrangement,
Cerberus will provide GeoEye with up to $215 million, giving it enough backing
to qualify for a key contract from the National Geospatial-Intelligence Agency.


Related Links: