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Satnews Daily
March 25th, 2016

Direct Access Contract Now In Place For DigitalGlobe

[Satnews] DigitalGlobe, Inc. (NYSE: DGI) has cemented an agreement into place that converts an existing letter of intent into a definitive agreement to extend and expand a contract with an existing international defense and intelligence customer.

Artistic rendition of DigitalGlobe's WorldView-3 satellite.

The contract was extended by four years, adding direct access to the WorldView-3 satellite. This agreement was included in the previously announced $38 million of incremental annual revenue starting in 2017 from contracts and letters of intent with international defense and intelligence customers.

Total commitments from these customers for capacity on WorldView-3 and WorldView-4 stands at $335 million and the percentage under firm contract has increased from 60 to approximately 70 percent.