Hello, Guest!
  • Monday, November 18, 2024

Planet Labs Set to Close SPAC Merger Deal Tuesday, Expects $590M in Gross Proceeds

Satellite imagery provider Planet Labs expects to complete its pending merger with dMY Technology Group (NYSE: DMYQ) on Tuesday and receive post-closure proceeds of approximately $590 million.

Shareholders at the special purpose acquisition company voted Friday to approve the combination of the two companies, which will subsequently do business as Planet Labs PBC and trade under the symbol “PL” on the New York Stock Exchange starting Wednesday.

Planet, which was established by three former NASA scientists, posted $100 million in fiscal 2021 revenue through its subscription business that supports more than 700 customers across the civil government, defense, agriculture and sustainability sectors.

Video of the Day

Related Articles

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted M&A Activity

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted

VTG has moved to expand its portfolio of digital transformation platforms and cloud services for defense and intelligence community customers through its acquisition of Vana Solutions. Vana Solutions is a Dayton, Ohio-based company founded by Srujal Sheth and Sunit Sheth in 2005 and is focused on delivering cloud services, advanced analytics, data fabric platforms and

IBM Strikes $6.4B Acquisition Deal for HashiCorp; Arvind Krishna Quoted M&A Activity

IBM Strikes $6.4B Acquisition Deal for HashiCorp; Arvind Krishna Quoted

IBM (NYSE: IBM) has agreed to acquire HashiCorp (Nasdaq: HCP) for approximately $6.4 billion, or $35 per share in cash, to expand its infrastructure and security lifecycle management capabilities designed to help organizations automate their multicloud and hybrid cloud environments amid the rapid deployment of artificial intelligence technologies. IBM said Wednesday the boards of directors

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted M&A Activity

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted

Sigma Defense Systems, a portfolio company of Sagewind Capital, has moved to expand its Combined Joint All-Domain Command and Control capabilities with its acquisition of Herndon, Virginia-based electronic warfare systems provider EWA. EWA was founded by President and CEO Carl Guerreri in 1977 to bring electronic warfare platforms, threat simulators, testing and training support and