[SatNews] GeoEye, Inc. (Nasdaq: GEOY) announced that GeoEye Imagery Collection Systems Inc., a wholly-owned subsidiary of GeoEye, Inc., has signed a procurement contract with Lockheed Martin Space Systems Company, an operating unit of Lockheed Martin Corporation (Bethesda, Md., NYSE: LMT), to complete the development and construction of the GeoEye-2 satellite and the associated command and control system.


Prior to entering this procurement contract, GeoEye and Lockheed Martin have been performing long-lead development and procurement activities for the GeoEye-2 satellite under an interim purchase agreement. The GeoEye-2 imagery satellite is being built to support GeoEye's EnhancedView contracts with the National Geospatial-Intelligence Agency (NGA) and also to meet the growing demands for imagery from commercial and international customers. Financial terms of the contract are not being disclosed.