VanderSat, now part of Planet Labs, is a provider of satellite-observed data, products, and services, specializing in monitoring soil and crop conditions. It utilizes mathematical expertise to process raw data from satellites of space agencies like NASA, ESA, and JAXA, translating it into understandable insights for customers. Their key focus is on providing high-resolution soil moisture data and biomass measurements for applications in agriculture and water management. VanderSat's partners and customers include BASF Digital Farming, and they contribute to projects supported by the ESA.
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This acquisition will be Planet’s sixth acquisition following BlackBridge group of companies in 2015, the Terra Bella business from Google in 2017, Boundless Spatial, Inc. in 2019, VanderSat B.V. in 2021, and Salo Sciences, Inc. in 2023.
Planet acquired VanderSat in 2021, a Dutch company that gathers data on soil moisture, land surface temperature, and other Earth-surface conditions.
VanderSat’s mission is to serve one billion hectares of land in 2024, and joining Planet was intended to accelerate that goal toward 2022.
Planet will acquire VanderSat for approximately $28,000,000.
VanderSat had a goal to serve one billion hectares of land in 2024 and aimed to reach that goal in 2022 upon joining Planet.
Under the agreement, Planet will acquire VanderSat for approximately $28,000,000.
The approximately $28,000,000 consideration for VanderSat consists of $18,000,000 in Planet Labs PBC Class A common stock and approximately $10,000,000 in cash.
The acquisition of VanderSat by Planet is expected to close later 2021 for about $10,000,000 in cash and $18,000,000 in shares of Class A common stock of Planet Labs PBC.
Planet extended its European footprint with the VanderSat acquisition, building on its 2015 purchase of Berlin-based BlackBridge and the RapidEye Earth-observation constellation.
Planet agreed to acquire VanderSat for about $28,000,000.
VanderSat aims to reach its one-billion-hectare goal in 2022 by joining Planet.