ORBIMAGE Purchases Assets of Space Imaging

ORBIMAGE Holdings Inc. (VA, USA) has announced that it had entered into a definitive agreement to acquire the assets of Space Imaging LLC (CO, USA). Under the asset purchase agreement, ORBIMAGE will acquire substantially all of the assets of Space Imaging. The total consideration for the transaction is approximately US$ 58.5 million less amounts which will be paid by Space Imaging on its existing debt prior to closing as well as certain other adjustments.

The transaction is subject to government regulatory approvals and other customary closing conditions. ORBIMAGE is optimistic that such conditions will be satisfied in time for the closing to occur on or prior to 31 December 2005.

Space Imaging is a supplier of visual information products and services derived from space imagery.