WESTMINSTER, Colo.--(BUSINESS WIRE)--DigitalGlobe, Inc. (NYSE: DGI), the global leader in earth imagery and information about our changing planet, today announced it has received two new satellite capacity commitments from international defense and intelligence customers, adding to the unprecedented pre-launch demand for WorldView-4 imagery ahead of its planned September 15 launch.
DigitalGlobe entered into a letter of intent with what is expected to become its 12th Direct Access Program customer. The multi-year commitment will allow the customer to rapidly task and receive imagery from all of DigitalGlobe’s WorldView satellites, via the installation of a new constellation Direct Access Facility. DigitalGlobe has also entered into a letter of intent with an existing international defense and intelligence customer for WorldView-4 capacity.
These letters of intent, combined with the previously announced commitments, anchored by WorldView-3 and WorldView-4, bring total commitments since the third quarter of 2015 to $415 million, of which approximately 55% is under firm contract. These commitments would generate an increase in annualized contracted revenue of approximately $55 million dollars, which would begin to be recognized as these contracts come on line throughout 2017 and into 2018. While there is no assurance that letters of intent will convert into firm contracts, this has historically been the case.
“The latest commitments further demonstrate the value that our allies around the world place on direct, priority access to our high-accuracy, high-resolution satellite imagery, which enables them to make critical decisions with confidence,” said Jeffrey R. Tarr, DigitalGlobe Chief Executive Officer. “With the additional 30 cm capacity that we’re bringing online with WorldView-4, and the investments we’ve made in our constellation Direct Access Facility program, we are meeting the growing demand from new and existing customers alike.”
About DigitalGlobe
DigitalGlobe is a leading provider of commercial high-resolution earth observation and advanced geospatial solutions that help decision makers better understand our changing planet in order to save lives, resources and time. Sourced from the world's leading constellation, our imagery solutions deliver unmatched coverage and capacity to meet our customers' most demanding mission requirements. Each day customers in defense and intelligence, public safety, civil agencies, map making and analysis, environmental monitoring, oil and gas exploration, infrastructure management, navigation technology, and providers of location-based services depend on DigitalGlobe data, information, technology and expertise to gain actionable insight.
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