DULLES, Va., March 15 - GeoEye, the world's largest operator of commercial imagery satellites, today announced the acquisition of M.J. Harden Associates, Inc. from General Electric Company. M.J. Harden is an industry-leading provider of digital aerial imagery and geospatial information solutions. GeoEye completed the acquisition of M.J. Harden's outstanding stock on March 15, 2007, and will operate the company as a wholly owned subsidiary. M.J. Harden, located in Mission, Kansas, has about 60 employees. As part of the agreement, GE will continue to own and operate the pipeline GIS consulting, software and data management business under GE's PII Integrity Services Division. M.J. Harden will continue to work together with PII to provide photogrammetry and geospatial services to support PII's Pipeline Integrity Services business.
The acquisition gives GeoEye access to M.J. Harden's digital aerial imagery capture capability, photogrammetry services, mobile and geographic information system technology and implementation services, field data collection and other related services that provide customers with asset-mapping and corridor management solutions. Customers include utilities, engineering companies, developers and federal, state and local government agencies, among others.
"This acquisition enables us to provide satellite and aerial imagery along with geospatial solutions to our resellers and customers," said Matthew O'Connell, GeoEye's president and chief executive officer. "Since most of M.J. Harden's customers are in the commercial segment, we think we can help them do more in the federal government sector. At the same time, we hope to expand the products they offer their customers. The addition of M.J. Harden's expert staff and services to the processing capabilities already offered by GeoEye is a logical extension of our goal of providing the highest quality geospatial information to our customers."
The deal will give GeoEye's customers access to M.J. Harden digital aerial imagery where customers may need higher resolution imagery than what is available from GeoEye's satellites. Digital aerial imagery is extremely complementary to GeoEye's imagery and is especially useful to geospatial professionals working for state and local governments, corridor mapping, as well as the utilities sector.
"The combination of GeoEye's high-quality satellite imagery and M.J. Harden's map-accurate digital aerial imagery will provide our customers information of unprecedented quality," said Doug Leibbrandt, general manager of M.J. Harden Associates, Inc. "We're eager to collaborate on a full range of geospatial products and solutions for customers in a wide range of markets."
Headquartered in Dulles, Va., GeoEye is the world's largest operator of commercial imaging satellites. GeoEye was formed as a result of ORBIMAGE's acquisition of Space Imaging in January 2006. The company is the premier provider of geospatial data, information and value-added products for the national security community, strategic partners, resellers and commercial customers. GeoEye operates a constellation of three Earth imaging satellites, possesses an international network of regional ground stations, a robust image archive, and advanced geospatial imagery processing capabilities. The company was listed on Nasdaq in September 2006. GeoEye maintains a comprehensive Quality Management System (QMS) and has achieved corporate-wide ISO accreditation. For more information, visit http://www.geoeye.com/.
About M.J. Harden Associates, Inc.
M.J. Harden Associates, Inc. (MJH) is a wholly owned subsidiary of GeoEye. MJH, an ISO 9001:2000 certified business, offers a wide-range of high quality photogrammetry and geospatial technology services. Services based on 50+ years of experience include: image acquisition, photogrammetric mapping, GIS consulting and implementation, and mobile data solutions. Through experience and technological expertise, MJH provides value to its customers from planning to deployment, to maintenance and support. Founded in 1956, MJH is located in Mission, KS.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties. GeoEye's actual financial and operational results could differ materially from those anticipated. Additional information regarding these risk factors and uncertainties is described more fully in the Company's SEC filings. A copy of all SEC filings may be obtained from the SEC's EDGAR web site, http://www.sec.gov/, or by contacting: William L. Warren, Senior Vice President, General Counsel and Corporate Secretary, at 703-480-5672.