BlackSky, a provider of geospatial intelligence, satellite imaging and global monitoring services, announced it has secured a USD 50 million senior secured loan from global satellite communications leader, Intelsat (NYSE: I), the company said.
The transaction results in an industry first, creating a strategic relationship that pairs Earth observation with a global communications infrastructure.
The new capital will allow BlackSky to augment existing assets and alliances, ensuring BlackSky remains a provider of delivering actionable Earth intelligence faster, with greater accuracy and more affordably than anyone else in the industry. Over time, BlackSky could incorporate access to Intelsat´s robust global communications infrastructure, delivering first-to-know insights to customers no matter where in the world they are.
With an established manufacturing capability, mission operations center and sales channels in place, BlackSky is in the process of expanding its constellation of smallsats that will deliver the highest revisit rate in the industry. The company is also the industry in fusing AI/ML-powered computer vision, high revisit rate imagery from orbital assets and open-source intelligence to provide customers with comprehensive, deep insights about the locations in the world they care about.
BlackSky currently has four 1-meter satellites in orbit with another four slated for launch in early 2020, and plans to have 16 satellites in its constellation by early 2021.
For this transaction, Evercore acted as a financial advisor to BlackSky and PJT Partners acted as financial advisor to Intelsat.
BlackSky´s premier global monitoring and alerting services provide an easy, affordable way to observe, analyze and act on timely and relevant insights about the world. For more information, visit www.blacksky.com.
Intelsat operates the world´s first Globalized Network, delivering high-quality, cost-effective video and broadband services anywhere in the world. For more information, visit Intelsat.com.