Posted: Fri, Jan 13, 2006, 7:10 AM ET (1210 GMT)
Commercial remote sensing company ORBIMAGE announced Thursday that it has completed its acquisition of rival company Space Imaging, and that the merged company will operate under a new name. ORBIMAGE announced last year that it would acquire Space Imaging for $58.5 million less debt, and received regulatory approval for the deal on December 22. The merged company, which will operate under the new name GeoEye, is the largest commercial satellite remote sensing company, with combined 2005 revenues of $160 million. The company operates two high-resolution imagery satellites, Ikonos and OrbView-3, as well as a lower resolution satellite, OrbView-2. A new high-resolution satellite, OrbView-5, is scheduled to launch in 2007, and the company is considering developing a similar satellite.

Related Links:

•  Space News article (subscription required)
•  Denver Post article
•  ORBIMAGE press release