New Agreement Advances Development of Russia's Commercial Geospatial Information MarketHERNDON, Va., July 6, 2011 — (PRNewswire) — GeoEye, Inc. (NASDAQ: GEOY), a leading source of geospatial information and insight, announced that it has signed a multi-year, multi-million-dollar agreement with its Russian partner, ScanEx Research and Development Center, to provide more than 50 million square kilometers of high-resolution commercial satellite imagery for international customers in Russia and its neighboring countries.
GeoEye will deliver high-resolution IKONOS imagery from its extensive color imagery archive and new imagery to be collected through 2012. This new agreement expands the 2010 agreement where GeoEye provided ScanEx over two million square kilometers of imagery. The scope of this new agreement underscores the international commercial market's increasing demand for high-resolution satellite imagery and services.
Olga Gershenzon, founder and vice president of ScanEx, said, "We are certain that this project, similar to the Landsat program in the 1980s, will stimulate development of advanced remote-sensing applications based on GeoEye's high-resolution imagery. We appreciate our strong and evolving partnership with GeoEye and value their support and confidence."
Chris Tully, GeoEye's senior vice president of Sales, said, "GeoEye and ScanEx have enjoyed a productive partnership since 2009. We are continually impressed by the creativity, entrepreneurship and contributions they have demonstrated by providing innovative tools and services to advance the Russian Earth-observation market."
ScanEx Research and Development Center is the leading Russian company in the remote sensing market that offers services ranging from acquisition to thematic processing of Earth-observation images from space. ScanEx's offerings include designing and manufacturing of hardware and software systems for spatial data reception and processing, development of software applications for satellite data reception and storage, processing and interpretation. ScanEx catalogues imagery data from leading remote sensing programs and generates thematic products, renderings and Web-mapping services.
GeoEye is a leading source of geospatial information and insight for decision makers and analysts who need a clear understanding of our changing world to protect lives, manage risk and optimize resources. Each day, organizations in defense and intelligence, public safety, critical infrastructure, energy and online media rely on GeoEye's imagery, tools and expertise to support important missions around the globe. Widely recognized as a pioneer in high-resolution satellite imagery, GeoEye has evolved into a complete provider of geospatial intelligence solutions. GeoEye's ability to collect, process and analyze massive amounts of geospatial data allows our customers to quickly see precise changes on the ground and anticipate where events may occur in the future. GeoEye is a public company listed on NASDAQ as GEOY and is headquartered in Herndon, Virginia with more than 700 employees worldwide. Learn more at www.geoeye.com.
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This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to growth, expected levels of expenditures and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, those described in "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2010, which we filed with the Securities and Exchange Commission ("SEC") on March 15, 2011, and our Quarterly Report on Form 10-Q for the period ended March 31, 2011, which we filed with the SEC on May 10, 2011. Copies of all SEC filings may be obtained from the SEC's EDGAR Web site, http://www.sec.gov/, or by contacting: William L. Warren, Executive Vice President, General Counsel and Secretary, at 703-480-5672.
SOURCE GeoEye, Inc.
Investor Relations, Randy Scherago, GeoEye
Media Contact, Val Webb, GeoEye