Iunctus Group Acquires RapidEye

"RapidEye will continue to operate as an independent company, leveraging a new strong German management team in order to maintain its successful brand and relationships," commented Ryan Johnson, president and CEO of Iunctus Geomatics.

"This acquisition gives our clients an excellent choice of satellite imagery, meeting their high-resolution and large area coverage requirements. This also provides an avenue for Iunctus to expand into an international distribution network for many of our products and services," added Johnson.

Dr. Manfred Krischke will be returning to RapidEye after co-founding the company in 1998. "During the next month we will review the current organisation with the most important goal of continuing and improving our service to existing and current clients and partners," commented Dr. Krischke. "I will consider it a positive sign that we acquired RapidEye on the anniversary of the launch of the satellites."

RapidEye's five identical Earth Observation satellites were launched from Baikonur Cosmodrome in Kazakhstan on 29 August 2008.

RapidEye and Iunctus will now provide a complete geoinformation value chain and will focus on customer relationships and developing strong partnerships.