03:09:41 EDT Sat 18 May 2024
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UrtheCast Corp
Symbol UR
Shares Issued 75,297,161
Close 2015-06-22 C$ 4.92
Market Cap C$ 370,462,032
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Globe says UrtheCast gets into the satellite business

2015-06-23 08:27 ET - In the News

The Globe and Mail reports in its Tuesday edition UrtheCast ($4.92), which wants to beam high-definition video images of the Earth taken from a camera on the International Space Station, is buying two satellites. The Globe's Richard Blackwell writes the company said Monday it is paying about $100-million for a Spanish company, Dot-Deimos, which owns two satellites. Dot-Deimos also has a huge archive of existing images. UrtheCast is buying the firm from another Spanish company, Elecnor SA. UrtheCast also said it plans to launch 16 new satellites of its own by 2020. Acquiring the Deimos-1 and Deimos-2 satellites will accelerate the plans to establish a constellation of satellites providing a variety of kinds of data. The acquisition means the company will have four "sensors" in space: the video camera on the space station, a still camera alongside it and the two Deimos satellites. All generate different kinds of information at different levels of resolution. Some of the images will be made available to the public for free on the company's website. Some clients will not necessarily want the raw images, but will purchase data derived from them, such as traffic patterns in a particular area.

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