GeoEye to Receive Payment of $111 Million from the National Geospatial Intelligence Agency

June 8, 2012 - By GPS World Staff

GeoEye, Inc. announced that it has successfully passed a major milestone for the development of the GeoEye-2 satellite under the EnhancedView program. GeoEye’s completion of this milestone triggers the $111 million cost-share payment from the National Geospatial-Intelligence Agency (NGA).

GeoEye reports that this critical milestone demonstrates the company’s capabilities to meet all of the U.S. government’s EnhancedView program requirements, on time and under this firm-fixed-price contract.

Matt O’Connell, GeoEye’s CEO and president, said, “This is a terrific achievement by our team and a great confirmation of our strong partnership with the NGA, especially during these uncertain economic times. We look forward to providing the NGA with the highest resolution color imagery from GeoEye-2, which will be an important long-term security asset to the DoD and the intelligence agencies of the United States.”

“GeoEye-2, designed and built by Lockheed Martin Space Systems, includes market-leading technology features, such as robust tasking capabilities, faster imagery collection rates and a new state-of-the-art, ITT Exelis Geospatial Systems camera,” said Carl Alleyne, GeoEye’s vice president of Engineering.