SAN FRANCISCO & WESTMINSTER, Colo.--(BUSINESS WIRE)--DigitalGlobe, a Maxar Technologies Ltd. company (formerly MacDonald, Dettwiler and Associates Ltd.) (NYSE and TSX: MAXR), today announced the extension and expansion of multi-year agreements with two major existing commercial technology customers, one of which is DigitalGlobe’s largest commercial contract ever.
These new multi-year agreements feature increased annual contract values and are contributing to growth in DigitalGlobe’s commercial business. DigitalGlobe continues to be the industry leader in delivering volumes of more frequently refreshed imagery, including the world’s highest resolution 30 cm commercial satellite imagery from WorldView-3 and WorldView-4.
“DigitalGlobe is a trusted partner of many of the world’s leading technology companies that power the new space economy,” said DigitalGlobe President Dan Jablonsky. “These recent commercial successes reinforce the powerful and unrivaled combination of our constellation and product strategy to deliver unique and valuable offerings that our customers are demanding and are driving growth in our commercial business.”
The company’s commitment to provide current, refreshed global imagery mosaics leverages new innovative technologies to increase scale and triple throughput, ensuring customers have ready access to the most up-to-date maps to power their applications. DigitalGlobe will also collect new imagery of 6,000 urban areas of interest each year, more than half at 30 cm. With expanded collection capacity, an optimized imagery collection strategy and product development enhancements, DigitalGlobe grew its number of Forbes Global 2000 customers in 2017 and drove greater product adoption and growth with new and existing customers.
“DigitalGlobe has implemented a unique and powerful global content collection and product strategy that leverages deep customer intimacy to deliver advanced products to commercial markets,” said DigitalGlobe’s Senior Vice President and General Manager Amy Minnick. “These products are increasingly being adopted by civil governments and customers in the technology, automotive, telecommunications and energy sectors to solve business challenges.”
DigitalGlobe was acquired by Maxar in 2017. Maxar is at the nexus of the new space economy, responsible for developing and sustaining the infrastructure upon which it operates and delivering the products, services, systems and solutions that make it possible, including industry-leading brands such as DigitalGlobe.
About Maxar Technologies
Maxar Technologies (formerly MacDonald, Dettwiler and Associates) is a leading global provider of advanced space technology solutions for commercial and government markets including satellites, Earth imagery, geospatial data and analytics. As a trusted partner, Maxar Technologies provides unmatched end-to-end advanced systems capabilities and integrated solutions expertise to help our customers anticipate and address their most complex mission critical challenges with confidence. With more than 6,500 employees in over 21 locations, the Maxar Technologies portfolio of commercial space brands includes: SSL, MDA, DigitalGlobe, and Radiant Solutions. Every day millions of people rely on Maxar Technologies to communicate, share information and data, and deliver insights that empower a better world. Maxar trades on the Toronto Stock Exchange and New York Stock Exchange as MAXR. For more information visit www.maxar.com.
DigitalGlobe is the global leader in commercial high-resolution satellite imagery used by decision makers to 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. DigitalGlobe is a Maxar Technologies company (NYSE: MAXR; TSX: MAXR). For more information visit www.DigitalGlobe.com.
This release contains forward-looking statements and information, which reflect the current view of Maxar Technologies Ltd. (the “Company” or “Maxar”) with respect to future events and financial performance. Forward-looking statements relate to future events or future financial performance. Any such forward-looking statements are based on Maxar’s current expectations, estimates, projections and assumptions made in light of its experience and perception of historical trends and are subject to risks and uncertainties that could cause our actual results or performance to differ materially from those indicated by such forward looking statements. Maxar’s actual results of operations could differ materially from historical results or current expectations. Some of the risk and uncertainties that could cause actual results to differ include, but are not limited to: the loss or reduction in scope of any of our primary contracts, or decisions by customers not to exercise renewal options; the loss or damage to any of our satellites; delays in the construction and launch of any of our satellites or our ability to achieve and maintain full operational capacity of all our satellites; loss or damage to the content contained in our ImageLibrary; interruption or failure of our ground systems and other infrastructure; decrease in demand for our imagery products and services; increased competition that may reduce our market share or cause us to lower our prices; changes in political or economic conditions, including fluctuations in the value of foreign currencies, interest rates, energy and commodity prices, trade laws and the effects of governmental initiatives to manage economic conditions; failure to obtain or maintain required regulatory approvals and licenses; and, changes in Canadian, U.S. or other law or regulation that may limit our ability to distribute our imagery products and services.
For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian and U.S. securities regulatory authorities, which are available online under the Company's SEDAR profile at www.sedar.com, under the Company's EDGAR profile at www.sec.gov, or on the Company's website at www.maxar.com.