Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



DigitalGlobe Purchase of GeoEye OK'd by Department of Justice

On Wednesday, earth-imaging specialist DigitalGlobe (NYSE: DGI  ) announced that it has received antitrust clearance from the U.S. Department of Justice for its purchase of rival orbiting photographer GeoEye (UNKNOWN: GEOY.DL  ) , scheduled to close by Jan. 31.

A merger between the two companies was agreed to on July 23, 2012, in a deal valued at $900 million. Assuming regulatory approvals from the Federal Communications Commission and National Oceanic and Atmospheric Administration permit the merger to proceed, the combined satellite-imagery company will be the largest of its kind in the world, boasting more than $750 million in combined annual revenue, and profits in excess of $40 million. DigitalGlobe CEO Jeff Tarr will lead the combined company.

Shares of DigitalGlobe gained 5% on the news, rising to $28.56 as of this writing, while shares of GeoEye rocketed 7.4% to $36.51.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2187750, ~/Articles/ArticleHandler.aspx, 9/26/2016 6:55:35 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,094.83 -166.62 -0.91%
S&P 500 2,146.10 -18.59 -0.86%
NASD 5,257.49 -48.26 -0.91%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/26/2016 4:02 PM
DGI $26.92 Down -0.07 -0.26%
DigitalGlobe CAPS Rating: **
GEOY.DL $0.00 Down +0.00 +0.00%
GeoEye CAPS Rating: *****