Alphabet Inc.’s Google is in talks to sell its satellite business to competitor Planet Labs Inc., a satellite-imagery startup that is seeking a new round of funding to help pay for the possible acquisition, according to people familiar with the talks.
The sale of its satellite-imagery unit, Terra Bella, would be a rapid about-face for Google, which has recently shed some of its bolder ventures. Google bought the company for $500 million in 2014, when it was known as Skybox Imaging.
Discussions about the possible acquisition, which were first reported by Bloomberg News on Monday, are focused on a possible cash plus equity deal, the people said. Planet, founded in 2011, is seeking to raise funds to help finance the deal and pay for continuing operations, one of the people said.
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