Radiant Group agrees to be acquired by DigitalGlobe, terms not disclosed
The Radiant Group announced that it has signed a definitive agreement to sell to DigitalGlobe. Upon completing the transaction, DigitalGlobe will be positioned to better support key national security missions at scale with an expanded portfolio of advanced capabilities that extend across the entire geospatial intelligence value chain, including smart tasking, collection, processing, big data analytics, and delivery of insights. "Our board unanimously concluded that partnering with DigitalGlobe was a unique opportunity to accelerate our growth strategy and to build a truly distinctive business supporting intelligence and defense," said Larry Hill, CEO of Radiant. "Our government customers require continuous information technology advancement. Together we provide advanced capabilities that span the spectrum of geospatial intelligence. This combination will unlock new value for customers and stakeholders as we accelerate innovation in the geospatial sector. It has been a unique pleasure to partner with Bob LaPenta and his team in building what is a truly unique enterprise." Closing is expected by the end of 2016, subject to satisfaction of customary closing conditions and regulatory approvals.