Tuesday, April 15, 2008

DigitalGlobe Files For IPO

Longmont, Colorado-based DigitalGlobe, a provider of imaging for the geographical information systems and mapping market, said in a filing with the SEC Monday that it is looking to raise up to $250M in an initial public offering on the NYSE. DigitalGlobe, which is looking to list as "DGI," said in its filing that the offering is being underwritten by Morgan Stanley, Lehman Borthers, Citi, UBS Investment Bank, and JPMorgan. DigitalGlobe's high resolution satellite photos are used both by commercial as well as government customers, and are used on the consumer side in applications like Google Maps and Microsoft Virtual Earth. The firm reported earning $95.8M on $151.7M in revenues in 2007, including a gain due to tax benefits.