Today Planet announced it has entered into an agreement to acquire Boundless Spatial Inc., a St. Louis-based geospatial software solutions company, to further support our commercial business with the U.S. government and agricultural clients.
The acquisition expands Planet's commercial business with the U.S. government and commercial agriculture clients. Boundless is a leader in geospatial data management software and is aligned with our objective to deliver novel geospatial data subscription services and accelerate adoption for enterprise customers.
With the addition of Boundless to the Planet organization, we will leverage Boundless' technology and expertise deployed inside the U.S. government to further facilitate the utility of Planet products. We will also incorporate their strong customer-centric culture, which is at the heart of their success in deploying geospatial data and technologies to customers. Further, this deal will also give us new U.S. Government customers. Planet will retain Boundless' St Louis, MO office and select staff.
Boundless and the Planet U.S. government team will form a subsidiary called Planet Federal. Planet Federal will focus on our growing U.S. government business representing Planet's commercial products for U.S. government requirements. Through this acquisition, we advance our long-term objectives to support and work more closely with the U.S. government as they increasingly look toward commercial products and services that are scalable, cost-effective and reliable.
We are looking forward to the synergy between Planet and Boundless and are thrilled to welcome Boundless to the Planet family!
