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NRO broadcasts satellite-imagery contracts to Maxar, Planet, BlackSky

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Maxar collected latest satellite imagery of the southern Ukrainian port city of Berdyansk that reveals a Russian Alligator-class landing ship that’s burned and partially submerged near one among the ports loading/unloading quays.

Maxar Technologies | Getty Images

The National Reconnaissance Office on Wednesday announced contracts price billions of dollars over the subsequent decade to a trio of satellite-imagery corporations: Maxar, Planet and BlackSky.

Maxar, in a securities filing, said its 10-year EOCL contract is price as much as $3.24 billion, with a five-year base contract of $1.5 billion and optional contracts price as much as $1.74 billion. BlackSky’s contract is valued at as much as $1.02 billion over 10 years, the corporate disclosed in a filing. Planet didn’t release the worth of its NRO award on Wednesday, with an organization spokesperson telling CNBC the delay is “because we remain in a quiet period,” as the corporate plans to report quarterly results on June 14.

NRO touted the contracts as “a historic expansion” of its acquisition strategy, noting the increasing availability of business corporations’ imagery “increases our resilience and enables an integrated approach” to national security. The NRO is the U.S. agency that manages a large breadth of satellite-intelligence capabilities, including operating its own classified satellites.

BlackSky stock soared 97% in trading to shut at $2.33 a share, while Planet’s rose 14% to shut at $5.73 a share, and Maxar’s climbed 18% to shut at $28.86 a share.

A picture from one among the corporate’s satellites shows Lower Manhattan in Recent York City.

Planet

The NRO award comes under its Electro-Optical Industrial Layer, or EOCL, program, which the intelligence agency says will support over 500,000 federal users over the subsequent decade.

The EOCL deal has been long-awaited, with Maxar previously serving because the NRO’s sole provider of commercially acquired satellite imagery. While Maxar could also be losing a lucrative monopoly, Wall Street analysts don’t expect the brand new competition to harm the corporate, given the expansion in total addressable marketplace for satellite imagery.

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