DigitalGlobe (NYSE: DGI) has wrapped up its purchase of Chantilly, Virginia-based geospatial data services contractor The Radiant Group from investment firm Aston Capital for approximately $140 million cash.
DigitalGlobe said Wednesday the acquisition allows the Westminster, Colorado-based satellite imagery provider to strengthen its foothold in the commercial geospatial information services market and to help address the intelligence community’s data requirements.
O™Melveny & Myers and DLA Piper respectively served as the legal counsels of DigitalGlobe and Radiant on the transaction, which the latter two companies first announced in October.
Radiant Group — which expects to generate nearly $100 million in revenue for 2016 — works with various customer agencies through the company’s positions on at least 80 government contract vehicles and 20 prime contracts.
DigitalGlobe financed the deal with cash on hand and money under an existing revolving credit line.
