CHANTILLY, VA and ARLINGTON, VA
--(Marketwired - October 12, 2016) - The Radiant Group, Inc. ("Radiant"), announces that it has signed a definitive agreement to sell to DigitalGlobe, Inc. (NYSE: DGI) ("DigitalGlobe"), the global leader in earth imagery and information about our changing planet. Radiant is a premier provider of geospatial technology, big data analytics, and intelligence analysis solutions to the federal government. Radiant has built a strong presence within the U.S. Intelligence Community and is a trusted industry partner at the National Reconnaissance Office, National Geospatial-Intelligence Agency, Defense Intelligence Agency, Special Operations Command, and other government agencies.
The acquisition brings together two industry leaders recognized for driving innovation and helping the U.S. Intelligence Community solve critical challenges by harnessing the power of earth imagery and geospatial information. Upon completing the transaction, DigitalGlobe will be positioned to better support key national security missions at scale with an expanded portfolio of advanced capabilities that extend across the entire geospatial intelligence value chain, including smart tasking, collection, processing, big data analytics, and delivery of insights.
"Our board unanimously concluded that partnering with DigitalGlobe was a unique opportunity to accelerate our growth strategy and to build a truly distinctive business supporting intelligence and defense," said Larry Hill, CEO of Radiant. "Our government customers require continuous information technology advancement. Together we provide advanced capabilities that span the spectrum of geospatial intelligence. This combination will unlock new value for customers and stakeholders as we accelerate innovation in the geospatial sector. It has been a unique pleasure to partner with Bob LaPenta and his team in building what is a truly unique enterprise."
Al Di Leonardo, Radiant's President and also founder of The HumanGeo, a Radiant Company, commented: "We are extremely excited to join DigitalGlobe. As a known, liked and trusted government partner, the Radiant team is composed of proven innovators in technology and tradecraft and our entire team is committed to improving the quality of geospatial technology and analytics, and to creating timely and relevant intelligence capabilities." He also added, "It has been a remarkable journey with HumanGeo, Aston Capital, and The Radiant Group, and we remain steadfastly determined to fulfill our promise to create a future providing world-class technology capabilities in support to our government."
Larry Shand, Radiant's Chief Development Officer and co-founder of RadiantBlue Technologies, stated, "I'm excited about joining the DigitalGlobe team. DigitalGlobe and Radiant share the same values and a commitment to serve our nation and our team. Together, we will address even greater opportunities as we find new ways we can make a difference."
Bobby Basil, a partner at Aston Capital, explained, "We are excited to enter a new chapter of growth by joining the global leader in earth imagery and information. We believe the combination of DigitalGlobe and The Radiant Group will create a unique services business well positioned to maximize strategic opportunities for enhanced revenue growth. My partners at Aston know and respect DigitalGlobe and look forward to realizing the full value of this combination for the benefit of our customers and other stakeholders."
Closing is expected by the end of 2016, subject to satisfaction of customary closing conditions and regulatory approvals.
About The Radiant Group, Inc.
The Radiant Group, Inc., provides advanced technical and analytical solutions focused on enhancing the quality and speed of decision making while reducing risk and ensuring mission success. Radiant solves real-time multi-INT collection and exploitation needs by providing an end-to-end capability and framework for innovation that moves data through the full life cycle of collection, exploitation and management from sensor to decision maker.
About DigitalGlobe, Inc.
DigitalGlobe, Inc., 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.
DigitalGlobe is a registered trademark of DigitalGlobe, Inc.
About Aston Capital
Aston Capital is a Stamford, Connecticut, based private equity fund focused on middle markets investing in the Aerospace, Defense and National Security sectors. Aston was founded by Robert V. LaPenta who co-founded L-3 Communications, Inc., and L-1 Identity Solutions, Inc. The firm's partners combine a long history of investing and operating experience in these markets.